Michael Saylor, the co-founder and executive chairman of American business intelligence firm MicroStrategy, has shared what he thinks will happen to bitcoin (BTC) in the next eight years while outlining how it will come into play.
According to him, institutional adoption is one of the first drivers of the digital asset’s global store of value status in the coming years. The bitcoin proponent believes institutional adoption is possible through the “utterances” of the United States Commodity Futures Trading Commission (CFTC), the Securities and Exchange Commission (SEC), and decisions by traditional financial institutions.
Saylor mentioned some traditional financial institutions, such as BlackRock and Fidelity, that are beginning to embrace bitcoin in recent times due to its potential despite previously distancing themselves from the asset.
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