Saylor: Bitcoin could become 'boring' as it becomes institutionalized
- Strategy co-founder appeared on a podcast with Natalie Brunell.
- Saylor discussed market sentiment, institutional participation, and the company's business strategy.
- Among other things, he stated that people are bearish due to the lack of sharp jumps in the Bitcoin price.
As Bitcoin becomes institutionalized, retail investor interest in it may wane, as the asset becomes “boring,” Strategy co-founder Michael Saylor said in a podcast with Natalie Brunell.
During the meeting, participants discussed Saylor's company's strategy for accumulating the first cryptocurrency, the differences between its shares, and the steps the company is taking to be included in the S&P 500 index. As a reminder, Strategy qualified but was not included.
Brunell also touched on the topic of bearish market sentiment. In this context, Saylor responded as follows:
“I think Bitcoin is consolidating because we currently have $2.3 trillion in this asset sitting outside the financial system. You can't borrow against it. […] People are rich on paper, but not in practice, because they need to sell their Bitcoin to free up funds.”
According to Saylor, this doesn't mean these investors have lost confidence in the first cryptocurrency. They just need to pay their bills.
“These large holders, the whales, they sold something like 5%. The market absorbed it. And now I'm seeing Bitcoin volatility decreasing, which is a very good sign,” Saylor noted.
According to him, low volatility will make the sector more attractive for large institutions, such as asset managers.
“But if large companies enter this market, it will become boring, at least for a while. This will lead to people's enthusiasm waning. They've had these surges, and now they'll be deprived of the adrenaline rush. And so they're a little bearish. But that's natural for an asset of this kind,” Saylor emphasized.
Experts have been talking about decreasing Bitcoin volatility for quite some time now. We previously covered a Matrixport report that suggests this is due to institutional participation.
Source: cryptonews.net
