In a recent interview, Michael J. Saylor, Co-Founder, Chairman, and CEO of Nasdaq-listed business intelligence company MicroStrategy Inc. (NASDAQ: MSTR), said the recent crypto ban in China is “largely irrelevant” for Bitcoin.
Speaking in an interview with Bill Barhydt, Co-Founder and CEO of crypto wealth management firm Abra, Saylor said he was unconcerned with China’s latest crackdown on crypto. Saylor highlighted his early investments in Google, Facebook and Twitter, saying he was likewise unfazed by Chinese regulations at the time.
As reported by The Daily Hodl, he said:
If you had dumped the shares of Google, Facebook and Twitter in 2010 because you heard that China was going to ban it, you would’ve lost obscene amounts of money. Trillions of dollars have been made on technologies banned by China.
Saylor continued, saying it was largely irrelevant what China decided to do in regards to cryptoassets. He highlighted the fact that China has announced a new ban “every quarter for the last five, six, seven years.”
Saylor remained bullish on Bitcoin despite the crackdown by China, and said investors should be thinking long-term with BTC. Saylor argued that statements by central banks and regulators have yet to dispute Bitcoin as a digital store of value, giving the industry a positive outlook.
The MicroStrategy chief also mentioned that there is strong indication that regulators and legislators were supportive of Bitcoin and the crypto industry in general. He went on to say that the ultimate goal is to have the industry “regulated appropriately,” a sentiment most investors are likely to agree with.
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.