Michael Saylor Says Republicans Have More ‘Progressive’ View on Crypto, Democrats ‘Drifting to the Middle’

In his recent appearance on CNBC, Saylor expressed that it’s clear the Republican party has adopted a strongly supportive position towards cryptocurrency, and this includes President Trump himself.

In essence, the Republicans are moving towards more liberal views on cryptocurrencies like Bitcoin, while the Democrats are leaning more towards the center or moderate stance in this area, as stated furthermore.

Regarding Gary Gensler’s possible role in a Harris administration, given his position as the Chair of the U.S. Securities and Exchange Commission and his involvement with crypto, Elon Musk (or whoever Saylor refers to) declined to offer an opinion on the matter, stating it was beyond his expertise to comment.

Despite bitcoin’s recent steep drop, taking it down to approximately a seven-month low of around $53,000 last week, Saylor remained unfazed. He continued to express his conviction that bitcoin, currently representing 0.1% of the world’s capital, will eventually escalate to a significant 7%, or an astounding price of approximately $13 million within the next two decades.

MicroStrategy, having recently changed its identity to focus on bitcoin strategies, now emphasizes that its main operation revolves around handling the world’s largest cryptocurrency. The company made its initial purchase of bitcoin in August 2020 and currently holds approximately $8.3 billion worth of the digital asset at present prices.

Over the past period, MSTR’s stocks have surged approximately 879% ever since the firm started investing in bitcoin. However, during the last six months, they have dropped around 20%, mirroring Bitcoin’s subpar market performance.