Michael Saylor \u2013 Executive Chairman of MicroStrategy \u2013 believes the regulatory pressure coming from the US SEC could be a bullish factor for bitcoin\u2019s price and increase its dominance above the other digital assets.\u00a0<\/span><\/p>\n The American predicted that many altcoins will be deemed securities and exchanges will delist them. BTC will be among the few to be spared, whereas its market share dominance could spike to 80%, Saylor added.\u00a0<\/span><\/p>\n One of the keenest supporters of the primary cryptocurrency \u2013 Michael Saylor \u2013 thinks the lawsuits which the US SEC filed against Binance and Coinbase could have a positive effect on bitcoin\u2019s preeminence and price. In a recent <\/span>interview<\/span> for Bloomberg, the American said he expects investors to increase their interest in the asset should the regulator continues its crackdown on the rest of the industry.\u00a0<\/span><\/p>\n According to him, the agency will declare most digital currencies securities, while BTC and \u201ca dozen other\u201d assets could remain the only ones with the status of commodities.\u00a0<\/span><\/p>\n \u201cThe entire industry is kind of destined to be rationalized down to bitcoin and a half a dozen to a dozen other proof-of-work tokens,\u201d Saylor said.<\/span><\/p>\n<\/blockquote>\n As a result, the leading digital asset could become even more attractive to investors, pushing its market dominance from the current levels of 48% to 80%.\u00a0<\/span><\/p>\n True to himself, Saylor gave another optimistic price prediction on bitcoin, seeing its valuation rising to above $250,000 and then shooting again tenfold.\u00a0<\/span><\/p>\n MicroStrategy\u2019s Executive Chairman has shared numerous bullish forecasts on BTC in the past few years. He labeled the asset as a better financial tool than gold in June last year,\u00a0<\/span>arguing<\/span>\u00a0its price could skyrocket \u201cinto the millions.\u201d<\/span><\/p>\n He remained a strong proponent during the FTX meltdown,\u00a0<\/span>claiming<\/span> that bitcoin is fully transparent and will emerge as a \u201cwinner\u201d because it is a \u201cdigital commodity.\u201d<\/span><\/p>\n Bitcoin\u2019s dominance against the alternative coins has gradually increased in the past several months. The latest data (presented by CoinMarketCap) shows that it reached 47.6%, a figure which was last seen in the spring of 2021.<\/span><\/p>\n The last time bitcoin\u2019s dominance stood at Saylor\u2019s future target of 80% was at the beginning of 2017. In the following years, though, Ether (ETH), Tether (USDT), Binance Coin (BNB), Ripple (XRP), and more gained traction and shrunk BTC\u2019s predominance.\u00a0<\/span><\/p>\nBitcoin is \u2018Destined\u2019 to Succeed<\/span><\/h2>\n
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BTC Dominance Hit a Two-Year High<\/span><\/h2>\n