Michael Saylor predicts Bitcoin will increase by 10 times once US regulations are clarified.

Michael Saylor, co-founder and former CEO of MicroStrategy, believes that clarifying regulations regarding digital assets in the US would increase the value of Bitcoin. According to Saylor, the flagship cryptocurrency will see a 10x increase in value as people realize that “Bitcoin is the next Bitcoin,” as he said in a recent Bloomberg interview. Saylor argues that the recent crackdown on cryptocurrencies by the US Securities and Exchange Commission (SEC) is “laying the foundation” for the next Bitcoin bull run. He believes that regulatory clarity will drive Bitcoin adoption by eliminating the confusion and anxiety that has been holding back institutional investors. Saylor’s MicroStrategy is one of the largest public holders of Bitcoin, with 140,000 BTC purchased at an average price of $29,803 per coin.

In a previous interview, Saylor classified any coin that enables staking or uses the proof-of-stake (PoS) mechanism as a digital security. He noted that Ethereum is a security due to its ICO, pre-mine, and management team. It’s worth noting that Saylor’s statements may be influenced by his company’s significant investment in Bitcoin, as many consider MicroStrategy to be a Bitcoin proxy.

SEC Sues Binance and Coinbase, Classifies Major Cryptos as Securities

Last week, the SEC sued Binance, the world’s largest cryptocurrency exchange, and Coinbase, the largest US-based cryptocurrency exchange. The commission filed 13 charges against Binance and its US affiliates, ranging from allegedly operating as an unregistered exchange to offering unregistered securities. Similarly, the SEC filed similar charges against Coinbase, claiming that it operated as an exchange, broker, or clearing agency without the required registrations. In both cases, the SEC noted that several tokens listed by the exchanges are unregistered securities, including dozens of popular cryptocurrencies. These include Binance’s native token BNB, Solana’s SOL, Cardano’s ADA, Polygon’s MATIC, Filecoin’s FIL, Cosmos’ ATOM, Sandbox’s SAND, Decentraland’s MANA, Algorand’s ALGO, Axie Infinity’s AXS, and Coti’s COTI tokens. In response to the SEC ruling, brokerage firm Robinhood has delisted Cardano, Polygon, and Solana.