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ABD merkezli yazılım şirketi MicroStrategy’s founder and president Michael Saylor, once again emphasized his belief that Bitcoin (BTC) is the most important cryptocurrency in the market. Known for his vocal support of Bitcoin, Saylor invited cryptocurrency investors to “make a wise choice” when considering investment options other than BTC, reminiscent of the legendary scene from “Indiana Jones and the Last Crusade”.
While Praising Bitcoin, He Cautions About Altcoins
As a Bitcoin maximalist, Saylor has been a supporter of MicroStrategy’s regular BTC purchases for the last four years and continues to defend the largest cryptocurrency as fervently as on the first day. Although he refrains from openly criticizing altcoins like some other leading figures, Saylor recently expressed the view that some altcoins, including XRP, Solana (SOL), Cardano (ADA), and Ethereum (ETH), could be classified as unregistered securities by the US Securities and Exchange Commission (SEC).
The CEO of MicroStrategy believes that all altcoins could soon officially be recognized as securities. According to him, this situation reinforces his belief that Bitcoin is the only cryptocurrency launched for long-term success. It is known that Bitcoin is currently the only cryptocurrency classified as a commodity by both the SEC and the US Commodity Futures Trading Commission (CFTC), which gives it a unique regulatory status.
Although the altcoin king Ethereum shares this status, recent statements by SEC Chairman Gary Gensler have increased doubts about its classification. Indeed, in recent years, regulatory pressure on altcoins and cryptocurrency exchanges in the US has increased, leading to more scrutiny.
Attention to Maintaining the $60,000 to $61,000 Range in Bitcoin
Once again, Saylor’s open support for Bitcoin comes as the largest cryptocurrency fell about 5% in the last 24 hours. On the hourly chart, a single large red candlestick pulled it from $63,284 down to $60,300. Since then, Bitcoin’s price has slightly recovered and is hovering around $61,000 at the time of writing.
Experienced cryptocurrency analyst Michael van de Poppe warns of further declines for Bitcoin, stating that if BTC fails to maintain its current trading range of $60,000 to $61,000, it could fall to between $52,000 and $55,000.
