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Microstrategy CEO: “I See Evidence of More Institutional Adoption”

Microstrategy CEO on Mainstream Bitcoin Adoption: 'I See Evidence of a Lot More Institutional Adoption'

Nasdaq-listed Microstrategy believes that there is “evidence for a lot greater institutional adoption” of Bitcoin. The firm cited various reasons including “The circumstances and the currency volatility” in Turkey, South America, and Africa — “all of these things have elevated institutional awareness of bitcoin.”


Microstrategy Outlines Future Outlook for Bitcoin

The future outlook for Bitcoin was discussed by Microstrategy, a Nasdaq-listed company in software.

“With regard to the outlook for bitcoin, I think that in the past 12 months, the asset class has evolved and matured,” Microstrategy CEO Michael Saylor explained, elaborating:

I see evidence of a lot more institutional adoption, greater adoption amongst macro and other hedge funds.

” We’ve made great strides with corporations,” he said. “There will be 24 publicly traded bitcoin miners by the end of the quarter, so lots of publicly traded companies in the Bitcoin space.”

Saylor also predicted there would be “more and larger publicly traded companies with bitcoin on their balance books, more investors with bitcoin exposure to banks, more banks rolling-out bitcoin acquisition, trading, and custody services, greater regulatory awareness, and more clarity about how the whole crypto industry will evolve .”

The pro-bitcoin executive went on to describe many developments that have increased bitcoin awareness. Saylor stated that “many of the macroeconomic development have raised the stature of businesses and investors throughout the rest of the globe to bitcoin,” noting:

The circumstances and the currency volatility in Turkey, the currency volatility in South America, the currency volatility in Africa, all of these things have elevated institutional awareness of bitcoin.

Additionally, Saylor explained that “the volatility of the capital market, volatility of equities and volatility of the Nasdaq, volatility of large tech stocks have all contributed to mainstream investors’ increased awareness of bitcoin.”

The CEO of Microstrategy stated that there is a growing consensus that Bitcoin is here for the long-term. The entire world has a huge opportunity with the crypto economy. “Politicians, investors, and corporations are diligently trying to figure out what this means and how to adjust their practices,” Saylor concluded.

We look forward to the next wave of institutional adoption that, I think, should be driven as people get more educated and more aware of what digital property is.

This week, Microstrategy bought 660 more bitcoins, raising the company’s crypto holdings to about 125,051 BTC.

Do you agree with Michael Saylor about the future outlook for bitcoin? Comment below.

Kevin Helms

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests include Bitcoin security, open source systems, network effects, and the intersection of cryptography and economics.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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