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MicroStrategy’s CEO believes that the UST default has shown: staplecoins are just a failed market response to society’s need for a digital dollar.
Michael Saylor, responding to questions from Charles Payne during an interview on Fox Business, said the UST Stablecoin collapse and the market crash highlighted three distinct categories of cryptocurrencies. The first category includes bitcoin, which has a truly unique value, the head of the company leading the way in BTC investments assures:
“The cryptocurrency collapses have demonstrated that the entire cryptocurrency world consists of three types of cryptocurrency assets and one perfect one, which is bitcoin, a paragon of true digital property.”
The head of MicroStrategy places Stablecoin in the second category, which he believes only satisfies the community’s need for a digital dollar:
“There are some imperfect assets that are stabelcoins. Which were issued because the world wants to use digital dollars. They just don’t exist yet. They look like opaque funds in the financial market.”
Alternative cryptocurrencies, altcoins Sailor categorizes as high-risk assets:
“They are unregistered securities, and what we saw this week was an explosion of altcoins. The world needs stablecoins that can be trusted.”
The businessman noted that the long-term effects of the UST collapse will be positive for bitcoin and the acceleration of cryptocurrency regulation.
“I think this default will benefit bitcoin. It will speed up the much-needed regulation of stabelcoins, altcoins and exchanges, and remove the political stalemate. The default showed the difference between bitcoins and securitized tokens and made it easier for companies and other organizations to enter the cryptocurrency market.”
Sailor believes that in addition to investing in industry products, retail investors are attracted to cryptocurrency as a way to invest money beyond the stock market:
“I think the crypto market is attracting new users every week. We’re winning from Goldman Sachs, from the big banks and from Fidelities.”
He noted that the basic idea behind cryptocurrency is that now billions of people don’t need to risk their savings in the stock market or casinos. Instead, they need to invest them in safe assets, “maybe even the hardest money the human race has ever invented, called bitcoins, and just wait?”
Billionaire and cryptocurrency investor Marc Cuban made a significant change in his investment portfolio in favor of USDC staplecoin in April.
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