The prominent bitcoin bull – Michael Saylor – opined that the FTX crisis will have certain benefits on bitcoin.
In his view, the turbulence will eliminate thousands of useless digital assets while the primary cryptocurrency and a “handful” of other coins will be the only survivors.
‘Bitcoin Will be the Winner’
In a recent interview for CNBC, MicroStrategy’s Executive Chairman – Michael Saylor – argued that bitcoiners (like himself) are “trapped in a dysfunctional relationship” with the rest of the crypto ecosystem.
He explained that the collapse of the digital asset exchange FTX came as a result of a lack of transparency. According to Saylor, if a company holds cryptocurrency assets, they should be “nobody else’s liability.”
“You need to have full transparency to it. And that’s what bitcoin is, and that’s what [the FTX token] FTT was not,” he claimed.
The American entrepreneur believes the ongoing calamity will speed up the implementation of necessar
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