“We Want Out,” Bitcoin Is Trapped with Other Cryptos, Says Michael Saylor

Michael Saylor CEO of Micro Strategy
Michael Saylor CEO of Micro Strategy

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

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“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.”