{"id":1550,"date":"2022-06-20T22:29:52","date_gmt":"2022-06-20T22:29:52","guid":{"rendered":"https:\/\/prendergast.net\/?p=1550"},"modified":"2022-06-20T22:29:52","modified_gmt":"2022-06-20T22:29:52","slug":"michael-saylor-lists-10-things-for-bitcoin-to-become-a-stronger-asset","status":"publish","type":"post","link":"https:\/\/prendergast.net\/?p=1550","title":{"rendered":"Michael Saylor Lists 10 Things For Bitcoin To Become A Stronger Asset"},"content":{"rendered":"<h1><strong>Michael Saylor Lists 10 Things For Bitcoin To Become A Stronger Asset<\/strong><\/h1>\n<p>by Shawn Amick&nbsp;<\/p>\n<p><img src=\"https:\/\/proxy.feedspot.com\/20750a9e8d2edcbbb22e15599e0838af3379b6f1\/68747470733a2f2f626974636f696e6d6167617a696e652e636f6d2f2e696d6167652f745f73686172652f4d546b774d546b314f5459344d5459784f44677a4f4441322f696d6167652e706e67\/?p=2\" \/><\/p>\n<p><a href=\"https:\/\/markethive.com\/rico40\" target=\"_top\" rel=\"noopener\"><img alt=\"ecosystem for entrepreneurs\" src=\"https:\/\/markethive.com\/images\/banners\/banners728x90\/CRYPTOCURRENCY.ENTREPRENEURS.png\" style=\"height:90px; width:728px\" title=\"Markethive\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size:18px\">In an interview with Bloomberg, Michael Saylor detailed 10 things that needs to happen over the next decade for bitcoin to become a stronger asset for institutions.<\/span><\/p>\n<ul>\n<li><span style=\"font-size:18px\">Michael Saylor recently appeared in an interview with Bloomberg to discuss bitcoin and regulation.<\/span><\/li>\n<li><span style=\"font-size:18px\">The CEO of MicroStrategy explained he believes bitcoin has 10 things it needs to become a stronger asset.<\/span><\/li>\n<li><span style=\"font-size:18px\">Saylor elaborated on his company&rsquo;s bitcoin strategy and its 10-year horizon and plans to acquire more bitcoin.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-size:18px\">Michael Saylor, CEO of the software analytics and pro-bitcoin company MicroStrategy, recently appeared in an&nbsp;<a href=\"https:\/\/twitter.com\/saylor\/status\/1537929523966070787?s=20&amp;t=15c-tr2r2h6KbQZIDpAPFQ\" target=\"_blank\" rel=\"noopener\">interview<\/a>&nbsp;with Bloomberg to discuss 10 steps he believes will make bitcoin a stronger asset.<\/span><\/p>\n<p><span style=\"font-size:18px\">&ldquo;There&rsquo;s about 10 things that have to happen over the next decade to make it [bitcoin] a better asset, and we kind of know what those 10 things are,&rdquo; Saylor stated in the interview.<\/span><\/p>\n<p><span style=\"font-size:18px\">The first on the CEO&rsquo;s list of issues to be addressed is the absence of a no wash-trading rule, allowing traders to harvest loss and gains in a way that cannot happen with traditional equities markets.<\/span><\/p>\n<p><span style=\"font-size:18px\">Then, Saylor mentioned the issues with the 520 unregistered and unregulated crypto exchanges offering 20x leverage, which often leads to unprotected investors taking massive losses.<\/span><\/p>\n<p><span style=\"font-size:18px\">Next, the 19,000 cryptocurrencies being cross-collateralized and associated with bitcoin currently hold bitcoin back by comparing it to badly managed, unregistered securities.<\/span><\/p>\n<p><span style=\"font-size:18px\">Moreover, the issue becomes worse as these securities are glorified by the next issue at hand, &ldquo;wildcat banks,&rdquo; which enable gammified practices offering unsustainable yield, such as was seen with the fall of the Terra ecosystem.<\/span><\/p>\n<p><span style=\"font-size:18px\">Not least of all, Saylor listed ignorance and fear of the asset class, as a lack of technical know-how still terrifies many, as does media coverage telling of the many supposed deaths of bitcoin.<\/span><\/p>\n<p><span style=\"font-size:18px\">However, the fear and uncertainty is not just for bitcoin as Saylor went on to explain that we currently do not have a real stablecoin, which he believes will be a major boon for the ecosystem once one is fully regulated and approved.<\/span><\/p>\n<p><span style=\"font-size:18px\">Then, the CEO closed his list noting the absence of a spot exchange-traded fund (ETF), which would allow institutions to interact with the asset of bitcoin without needing to touch it themselves.<\/span><\/p>\n<p><span style=\"font-size:18px\">Finally, the three remaining points that need to be improved on in the bitcoin ecosystem revolve around the lack of regulatory guidance and support institutions currently must overcome. These points include lack of insurance, as well as guidance in becoming involved with the space.<\/span><\/p>\n<p><a href=\"https:\/\/markethive.com\/rico40\" target=\"_top\" rel=\"noopener\"><img alt=\"ecosystem for entrepreneurs\" src=\"https:\/\/markethive.com\/images\/banners\/banners728x90\/JOIN.THE.REVOLUTIONdr.png\" style=\"height:90px; width:728px\" title=\"Markethive\" \/><\/a><\/p>\n<p><span style=\"font-size:18px\">Prior to revealing his list of improvements that will launch bitcoin into its next bull-cycle, Saylor spent much of the interview justifying the bitcoin strategy of MicroStrategy during this recent downturn.<\/span><\/p>\n<p><span style=\"font-size:18px\">&ldquo;We did a lot of backtesting and I&rsquo;ve gone back and looked at the numbers,&rdquo; Saylor explained. &ldquo;On August 10, 2020 when we announced our $250 million bitcoin buy, since then, bitcoin is up 72%.&rdquo;<\/span><\/p>\n<p><span style=\"font-size:18px\">He went on to compare it to some traditional assets over the same time period including: the NASDAQ (-2%) , gold (-9%), S&amp;P 500 (+9%), and single-family homes (+26%).<\/span><\/p>\n<p><span style=\"font-size:18px\">&ldquo;The bottom line is that the bitcoin strategy is 10x better than any other alternative,&rdquo; Saylor concluded. &ldquo;So, no. I don&rsquo;t regret it.&rdquo;&nbsp;<\/span><\/p>\n<p><\/p>\n<p>Tim Moseley<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Michael Saylor Lists 10 Things For Bitcoin To Become A Stronger Asset by Shawn Amick&nbsp; &nbsp; In an interview with Bloomberg, Michael Saylor detailed 10 things that needs to happen over the next decade for bitcoin to become a stronger asset for institutions. Michael Saylor recently appeared in an interview with Bloomberg to discuss bitcoin &hellip; <a href=\"https:\/\/prendergast.net\/?p=1550\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Michael Saylor Lists 10 Things For Bitcoin To Become A Stronger Asset<\/span> <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[532],"_links":{"self":[{"href":"https:\/\/prendergast.net\/index.php?rest_route=\/wp\/v2\/posts\/1550"}],"collection":[{"href":"https:\/\/prendergast.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prendergast.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prendergast.net\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prendergast.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1550"}],"version-history":[{"count":0,"href":"https:\/\/prendergast.net\/index.php?rest_route=\/wp\/v2\/posts\/1550\/revisions"}],"wp:attachment":[{"href":"https:\/\/prendergast.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1550"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prendergast.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1550"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prendergast.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1550"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}