Enforcement actions on cryptocurrency companies by regulators in the US may end in a Bitcoin (BTC)-focused business that can push its worth over $250,000, in line with MicroStrategy co-founder Michael Saylor.

In a June 13 Bloomberg interview, the Bitcoin bull defined current enforcement actions from the Securities and Alternate Fee would ultimately play in favor of Bitcoin— the one crypto excluded from being a safety by SEC Chair Gary Gensler.

Saylor added that U.S. regulators “don’t see a legit path ahead for cryptocurrencies,” including “they haven’t any love” for stablecoins, crypto-tokens or crypto-based derivatives.

Saylor stated crypto exchanges could be the catalysts behind the numerous worth surge:

“[The SEC’s] view is crypto exchanges ought to commerce and maintain pure digital commodities like Bitcoin and so your entire business is sort of destined to be rationalized all the way down to a Bitcoin-focused business with perhaps a half a dozen to a dozen different proof of labor tokens.”

“The subsequent logical step is for Bitcoin to 10x from right here after which 10x once more,” he claimed.

Saylor famous Bitcoin’s market share elevated from 40% to 48% in 2023, which can be attributed partially to the SEC’s enforcement exercise and the company labeling 68 cryptocurrencies as securities — none of that are proof-of-work.

Sooner or later, Saylor believes this dominance will enhance to 80% as “mega institutional cash” will move into crypto after “confusion and anxiousness” over crypto disappears.

Saylor and different Bitcoin-centric advocates have been met with appreciable criticism, nevertheless.

Anthony Sassano, host of The Every day Gwei, just lately known as out “Bitcoiners” who’re happy to see the SEC file lawsuits in opposition to Coinbase and different exchanges that record tokens that the company considers to be unregistered securities.

The staff behind Ethereum-based pockets MetaMask and lots of others additionally imagine a “multichain future” is inevitable as a result of totally different blockchains serve totally different functions.

Associated: Bitcoin worth can ‘simply’ hit $20K in subsequent 4 months — Philip Swift

Mike McGlone, a senior macro strategist at Bloomberg Intelligence, defined in early Could {that a} “deflationary bust” is impacting the commodities market and financial institution deposits — and that crypto would be the subsequent domino to fall.

In January, economist Lyn Alden instructed Cointelegraph there may be “appreciable hazard forward” for Bitcoin within the second half of 2023, stating that when the U.S. resolves its debt difficulty, vital liquidity shall be pulled out of markets:

“At that time, each the Treasury and Fed shall be sucking liquidity out of the system, and that might create a weak time for threat belongings generally, together with BTC.”

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