11:35
Bitcoin Bull Michael Saylor Compares Buying Dogecoin to Gambling in Vegas

In a July 3 interview with NorthmanTrader’s Sven Henrich, MicroStrategy CEO Michael Saylor drew parallels between buying Dogecoin and playing Russian roulette in Las Vegas:    

I’m gonna buy Dogecoin before Elon Musk goes on Saturday Night Live. I’m gonna go to Vegas and I’m going to bet on black.

That said, the billionaire believes that it’s not unethical to gamble on meme stocks or meme cryptocurrencies as long as you don’t impoverish your family:

We shouldn’t tell adults they can’t. If they wanna gamble on sports outcomes or if they wanna gamble in Vegas, or if they wanna gamble on a meme…As long it’s in your gambling bucket and you’re not going to impoverish your family.       

Saylor claims that those who put money into promising companies or cryptocurrencies with use cases actually make an investment.

Regulatory risks
The MicroStrategy boss also says that regulatory uncertainly is an “overhang” for the entire cryptocurrency market:

I think that the market would be bigger without it.

He thinks that decentralized exchanges and decentralized applications present the biggest regulatory risk because they are "very ambitious”: 

If the regulators are not pleased with exchanges offering Bitcoin and Ethereum futures in London right now, they are definitely not going to be pleased with DeFi exchanges offering Bitcoin/Ethereum futures.    

Decentralized private currencies of the likes of leading stablecoin Tether pose a “direct threat” to central bank digital currencies, according to Saylor, which is why they will not be able to escape regulatory scrutiny.

The billionaire expects the “Tether FUD” to have a ripple effect on Bitcoin and Ethereum.

Sourse: u.today

Start mining bitcoin now

Start trading bitcoin now

Category: News | Views: 116 | Added by: danyagames2007 | Tags: #Bitcoin #Bitcoin Price #BTC | Rating: 0.0/0
Total comments: 0
Name *:
Email *:
Code *:
[10.07.2021][News]
The Bitcoin cycle will last 1,000 days, one analyst says, as crypto rallies despite 40% volume drop (5)
[10.07.2021][News]
This Country Could Make Bitcoin a Legal Tender After El Salvador (0)
[10.07.2021][News]
Bitcoin Market State: Investors Holding Steady Instead of Selling Large Volumes like 2018, But Volatility to Remain Under Pressure until Q3 (0)
[09.07.2021][News]
Apple Co-Founder Steve Wozniak Calls Bitcoin a "Miracle," Says It's Better Than Gold (0)
[09.07.2021][News]
We must stop bitcoin before it's too late (0)
[09.07.2021][News]
Bitcoin price under pressure as regulatory concerns mount (0)
[08.07.2021][News]
In First, Israeli Authorities Seize Digital Wallets Containing Bitcoin and Other Cryptocurrencies Destined for Hamas (0)
[08.07.2021][News]
The Wyckoff Accumulation: Why Is Bitcoin at a Critical Level According to the Model? (0)
[08.07.2021][News]
When Will Bitcoin Rally Again? (0)
[08.07.2021][News]
Elon Musk Receives Amusing Request to Start Pumping Bitcoin Again But He Says "No" (0)
close