FOLLOW US

In an interview, Thursday morning on CNBC, MicroStrategy’s chief executive, Michael Saylor, shared his thoughts regarding the FTX fiasco, and Bitcoin. 

“Speaking for all bitcoiners, we feel we’re trapped in a dysfunctional relationship with crypto, and we want out,” he said in the interview with CNBC’s “Squawk on the Street” program. He added that “bitcoin BTCUSD will be the winner because bitcoin is a digital commodity and it’s the least controversial of everything.”

Asked about regulation, Saylor said that the industry needed to grow up and that regulations are coming into this space. The events this week will “accelerate [regulatory] intervention,” said Saylor.

Earlier this week, Binance Chief Executive Changpeng Zhao announced an intent to acquire fellow crypto exchange FTX. A day later, he pulled out of the deal, saying that decision was a result of “corporate due diligence, as well as the latest news reports regarding mishandled customer funds and alleged U.S. agency investigations.”

With progressive regulation, people won’t see 20,000 tokens as we do now, he said. Instead, there will be a handful of tokens, and they’ll be properly registered.

“We’re moving from the entrepreneurial stage … to an institutional digital-asset stage where big players … are going to enter this space, and we’re all just going to grow up, and the world is going to benefit from that,” said Saylor.

“It teaches you that if you’re going to have a crypto asset, it needs to be nobody else’s liability. You need to have full transparency to it. And that’s what bitcoin is and what’s what [the FTX token] FTT was not.”