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December 5, 2022
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Michael Saylor compared buying Dogecoin to gambling in Las Vegas

Michael Saylor even left some tips for investors interested in Dogecoin

In a July 3rd interview with Sven Henrich of NorthmanTrader, MicroStrategy CEO Michael Saylor drew parallels between buying Dogecoin and playing Russian roulette in Las Vegas:

“I’m going to buy Dogecoin before Elon Musk goes to Saturday Night Live. I’m going to Las Vegas and I’m going to bet on black.”

That said, the billionaire believes it’s not unethical to bet on meme stocks or cryptocurrencies, as long as you don’t impoverish your family:

“We shouldn’t tell adults they can’t. If they want to bet on sports scores or if they want to bet on Las Vegas, or if they want to bet on a meme… As long as it’s in your betting bucket and you don’t impoverish your family.”

Saylor says those who put money into promising companies or cryptocurrencies with use cases actually make an investment.

regulatory risks

The head of MicroStrategy also said that regulatory uncertainty is an issue for the entire cryptocurrency market:

“I think the market would be bigger without it.”

He thinks that decentralized exchanges and decentralized applications pose the greatest regulatory risk because they are “too ambitious”:

“If regulators aren’t happy with the exchanges that offer Bitcoin and Ethereum futures in London right now, they definitely won’t be happy with the DeFi exchanges that offer Bitcoin/Ethereum futures.”

Decentralized private currencies like the main stablecoin Tether pose a “direct threat” to the central bank’s digital currencies, according to Saylor, and that’s why they won’t be able to escape regulatory scrutiny.

The billionaire hopes “Tether FUD” will have a ripple effect on Bitcoin and Ethereum.

Source: U.Today

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