Regarding the collapse suffered by this digital asset, he considered that this is linked to the rise in interest rates by the Fed, as is the case with other risky assets, considering it independent of the collapse of the stablecoin TerraUSD and its sister token Luna, which, according to he said, it will speed up efforts to regulate stablecoins and security tokens.
“It will be good for the industry”he said, adding that “Over time, I think as people get educated and feel more comfortable, I think we’ll bounce back from this downturn.”
Terra’s downgrade will lead to an acceleration of the regulation of stablecoins and crypto security tokens, to the benefit of Bitcoin, which will not be affected, he said. “Once people understand why bitcoin is superior to everything else, then the institutions will come in with a lot of money, and we won’t have to struggle through this massive explanation of why we’re different from the other 19,000 cryptocurrency tokens.”added.
MicroStrategy CFO Andrew Kang for his part said the company’s long-term buy-and-hold strategy would not change despite the decline in crypto and stock markets in general.
Kang said the company has no plans to sell at the moment and said it has not faced shareholder pressure despite the turmoil, according to the report.
Recall that published data shows that as of March 31, Microstrategy had 129,000 Bitcoin in its vaults, with an average purchase cost of about $30,700.
Source: Ambito
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