at a price that uh allowed us to buy bitcoin in a way that we thought would be accretive to all
of our shareholders so we try to choose our spots but then in the day you know if you add another
10 000 bitcoin when the price goes to 100 000 it's a lot of money when it goes to a million
it's a lot of lot of money and uh our shareholders are long bitcoin
there's no one buying microstrategy stock that doesn't believe bitcoin is going up
welcome back everybody to altcoin daily where you subscribe because you're interested in making
money with cryptocurrency and this channel keeps you informed my name's austin hit subscribe join
us on our road to 1 million into let's jump in that was of course michael saylor on bloomberg
tv illustrating that most people still don't understand just how big cryptocurrency could get
bitcoin will be at 100k it will be at one million dollars per coin if you're willing to huddle which
is why microstrategy feels good about buying bitcoin at these prices they have the long-term
outlook but hey austin wait a minute what about regulation there's a looming presence
of regulators are you not concerned that they may be here to quote unquote ruin the party
in this second clip out of three listen to michael sayler react to a senate hearing
with gary gensler where they're talking about stable coin regulation specifically
where every party agrees that we just need some clarity listen to michael saylor explain that
bitcoin is the safest bet with the most upside from a regulatory standpoint but any clarity
clarity for the entire space will only bring more money into this industry watch this and yet
there's obviously a looming regulatory crackdown take a listen to this from sec chair gary gensler
is it your view that stable coins themselves can be securities um i think that's senator
they may well be securities to me a stable coin doesn't meet the second prong of the howie test
that there has to be an expectation of profits from the investment and so if it doesn't meet
the howie test it looks to me like it's not a security now maybe you've got a good argument
for why some are and some aren't my whole point is i think we need to have clarity on this
michael are you at all concerned that regulators could regulate the
exuberance that you were talking about earlier out of the market
i think that um the big winner of that entire hearing was bitcoin the the consensus that's
emerging is that bitcoin is a commodity and bitcoin is property and if your use case is
to buy bitcoin as a long-term store of value then there's broad-based consensus and support for that
across congress the senate the regulators the administration and industry here and abroad
i think that there is a need for clarity i mean there's consensus that people think
um the innovations of of cryptocurrency could be beneficial for the next hundred years they're good
for the industry they're good for the western world uh there's also consensus that we would
benefit from clarity and i think senator toomey was pointing out that that uh we would all benefit
from clarity but i think that the secs uh would probably agree with them and i think that over
time we can expect that we'll see more clarity with regard to all digital assets and i expect
that will reduce the volatility in the bitcoin space it'll increase public confidence in bitcoin
and it's also going to accelerate institutional adoption and retail adoption of bitcoin because
these are all good things for the industry interesting give me your thoughts on this
michael saylor perspective give me your thoughts down below in the video description
if bitcoin gets to 100k gets to a million in these next 10 whatever amount of years what
could that mean for the space where would that put certain altcoins give me your thoughts down below
i do want to share with you a few other pieces of altcoin news but in this one last clip known
skeptic of cryptocurrency emily chang host of bloomberg tv pushes back on michael saylor
saying that in el salvador a country that has just adopted bitcoin as legal tender we are seeing some
pushback some protests against bitcoin and guys obviously with anything that has lovers of bitcoin
is always going to have haters and michael saylor reminds emily that over 500 000
people have downloaded a bitcoin wallet have gotten some bitcoin in el salvador this is a
huge snowball effect that we have never seen in history watch this meantime you have demonstrators
in el salvador burning a bitcoin atm protesting the country's adoption the country's president
pushing uh the adoption of bitcoin what's your take on what this kind of resistance mean in just
in just one country and for the rest of the world well i think first of all uh the big news here is
500 000 people in el salvador downloaded uh a lightning bitcoin wallet and they received 30
worth of bitcoin and that's an extraordinary world shaking event never happened in the history of the
world and it indicates just how rapidly bitcoin and lightning can spread i think that uh there
are sparks in el salvador and there's politics right there's an opposition party in the country
there's opposition parties in every single state of the union in every country in the world and and
so if the government takes one position there's going to be an opposition to that
position and it's natural to see that but i i think that the way to think about bitcoin is
bitcoin is the most disruptive technology of the decade it's making people's lives better but
it's something you can't avoid which means that everyone's being forced to have an opinion and so
you see some sparks because it's moving so quickly like like a airfoil moving fast in the speed
of sound there's going to be a shock wave but it's because it's changing the world so quickly
good clip good good clip and by the way like i said if you're interested in seeing more
good clips into learning about cryptocurrency click subscribe we are blasting off through a
million one of the fastest growing channels on cryptocurrency in the interwebs and next piece
of news keeping you informed the united states homeland security has just paid coinbase or signed
a 1.36 million dollar contract with coinbase and this new deal with the u.s government is around
40 times bigger than its last and why why is the us government paying coinbase
well coinbase will provide immigrations and customs enforcement branch or ice with blockchain
analytic software the us crypto exchange has also provided software to the us secret service
and inland revenue those are separate branches now they again signed a deal with ice this branch the
immigration and customs enforcement branch of u.s homeland security has given a 1.36 million dollar
contract to crypto exchange giant coinbase so ice will be collecting some data and specifically
specifically what do they want this data for well details as to what exactly ice wants coinbase
software for are scarce the same document later states that this requirement is a law enforcement
sensitive therefore minimal information will be provided publicly so they're just collecting data
and i have seen some people sort of angry at this angry that coinbase would do this they're
a centralized exchange they're a centralized exchange in the us this was inevitable they do
not have a choice that is why though decentralized exchanges can be the silver lining in all this
keep supporting decentralized exchanges and next piece of altcoin news for sushi sushi swap
co-founder who is the anonymous xerox maki steps down as their leader in a candid blog post sushi's
co-founder explained the toll that running the exchange sushi swap has taken on his personal life
so in a way sushi swap which is a prominent ex in a way is getting more decentralized as their
anonymous founder steps down he will remain in the dao as an advisor so a less prominent role
and i believe all this is due to sushi swaps tokenization platform miso suffered a 3 million
hack yesterday though all funds have since been returned but obviously stressful for any founder
in a tweet and forum post the pseudonymous developer said that he always strived for sushi to
be leaderless and he encourages decentralization as much as possible and in another direct quote
he goes further on to say i put sushi before my physical and mental health my relationships
my family my friends so he's stepping down sushi still very much in in the picture but uh they're
just going to the dao model right led by the people instead of a centralized entity and
that's the video my name's austin like always see you tomorrow there are no informed critiques
i have yet to see them there are uninformed critiques and what is that that's the same as
your fighter jet slamming into a wall of air faster than the speed of sound and you get a
shock wave and you get turbulence and you get heat and you get sound and fury and is
that a bad thing it just means we're moving fast right we're moving very fast and we're getting
noticed and everyone has to notice it right when you're asking the spokesperson for the kremlin
you know for for for putin whether or not russia is going to adopt bitcoin as the national currency
that's not when they say not yet or no that's not that's not a negative signal
that's a positive signal nobody asked putin whether they're going to adopt apple stock
or gold or silver or the giant stone coin of the people as currency in russia right there's
only one question they're asking them and they're asking them the question because it's on the table
and that's indicative of the success of bitcoin so to summarize i am more bullish than ever