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Michael Saylor &#8211; Executive Chairman of MicroStrategy &#8211; believes the regulatory pressure coming from the US SEC could be a bullish factor for bitcoin&#8217;s price and increase its dominance above the other digital assets. 
The American predicted that many altcoins will be deemed securities and exchanges will delist them. BTC will be among the few to be spared, whereas its market share dominance could spike to 80%, Saylor added. 
<h2 id="span-data-preserver-spaces-true-bitcoin-is-8216-destined-8217-to-succeed-span">Bitcoin is &#8216;Destined&#8217; to Succeed</h2>
One of the keenest supporters of the primary cryptocurrency &#8211; Michael Saylor &#8211; thinks the lawsuits which the US SEC filed against <a href="https://cryptopotato.com/bitcoin-plummets-after-sec-sues-binance-for-securities-violations/" data-wpel-link="internal">Binance</a> and <a href="https://cryptopotato.com/us-sec-files-a-lawsuit-against-coinbase-day-after-suing-binance/" data-wpel-link="internal">Coinbase</a> could have a positive effect on bitcoin&#8217;s preeminence and price. In a recent <a class="editor-rtfLink" href="https://www.bnnbloomberg.ca/microstrategy-s-saylor-says-bitcoin-s-crypto-market-share-will-almost-double-1.1932683" target="_blank" rel="noopener" data-wpel-link="external">interview</a> for Bloomberg, the American said he expects investors to increase their interest in the asset should the regulator continues its crackdown on the rest of the industry. 
According to him, the agency will declare most digital currencies securities, while BTC and &#8220;a dozen other&#8221; assets could remain the only ones with the status of commodities. 
<blockquote>&#8220;The entire industry is kind of destined to be rationalized down to bitcoin and a half a dozen to a dozen other proof-of-work tokens,&#8221; Saylor said.</blockquote>
<figure id="attachment_255167" aria-describedby="caption-attachment-255167" style="width: 711px" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2023/06/Saylor.jpeg" data-wpel-link="internal"><img class="wp-image-255167" src="https://cryptopotato.com/wp-content/uploads/2023/06/Saylor.jpeg" alt="Michael Saylor" width="711" height="400" srcset="https://cryptopotato.com/wp-content/uploads/2023/06/Saylor.jpeg 929w, https://cryptopotato.com/wp-content/uploads/2023/06/Saylor-300x169.jpeg 300w, https://cryptopotato.com/wp-content/uploads/2023/06/Saylor-768x432.jpeg 768w, https://cryptopotato.com/wp-content/uploads/2023/06/Saylor-50x28.jpeg 50w" sizes="(max-width: 711px) 100vw, 711px" /></a><figcaption id="caption-attachment-255167" class="wp-caption-text">Michael Saylor, Source: CNBC</figcaption></figure>
As a result, the leading digital asset could become even more attractive to investors, pushing its market dominance from the current levels of 48% to 80%. 
True to himself, Saylor gave another optimistic price prediction on bitcoin, seeing its valuation rising to above $250,000 and then shooting again tenfold. 
MicroStrategy&#8217;s Executive Chairman has shared numerous bullish forecasts on BTC in the past few years. He labeled the asset as a better financial tool than gold in June last year, <a class="editor-rtfLink" href="https://cryptopotato.com/despite-the-bear-market-michael-saylor-explains-why-bitcoin-is-going-to-1m/" target="_blank" rel="noopener" data-wpel-link="internal">arguing</a> its price could skyrocket &#8220;into the millions.&#8221;
He remained a strong proponent during the FTX meltdown, <a class="editor-rtfLink" href="https://cryptopotato.com/bitcoin-will-be-the-winner-michael-saylor-on-the-ftx-collapse/" target="_blank" rel="noopener" data-wpel-link="internal">claiming</a> that bitcoin is fully transparent and will emerge as a &#8220;winner&#8221; because it is a &#8220;digital commodity.&#8221;
<h2 id="span-data-preserver-spaces-true-btc-dominance-hit-a-two-year-high-span">BTC Dominance Hit a Two-Year High</h2>
Bitcoin&#8217;s dominance against the alternative coins has gradually increased in the past several months. The latest data (presented by CoinMarketCap) shows that it reached 47.6%, a figure which was last seen in the spring of 2021.
<figure id="attachment_255180" aria-describedby="caption-attachment-255180" style="width: 1510px" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2023/06/111111111.jpg" data-wpel-link="internal"><img class="wp-image-255180 size-full" src="https://cryptopotato.com/wp-content/uploads/2023/06/111111111.jpg" alt="Bitcoin Dominance Chart. Source: CoinMarketCap" width="1510" height="706" srcset="https://cryptopotato.com/wp-content/uploads/2023/06/111111111.jpg 1510w, https://cryptopotato.com/wp-content/uploads/2023/06/111111111-300x140.jpg 300w, https://cryptopotato.com/wp-content/uploads/2023/06/111111111-1024x479.jpg 1024w, https://cryptopotato.com/wp-content/uploads/2023/06/111111111-768x359.jpg 768w, https://cryptopotato.com/wp-content/uploads/2023/06/111111111-50x23.jpg 50w" sizes="(max-width: 1510px) 100vw, 1510px" /></a><figcaption id="caption-attachment-255180" class="wp-caption-text">Bitcoin Dominance Chart. Source: CoinMarketCap</figcaption></figure>
The last time bitcoin&#8217;s dominance stood at Saylor&#8217;s future target of 80% was at the beginning of 2017. In the following years, though, Ether (ETH), Tether (USDT), Binance Coin (BNB), Ripple (XRP), and more gained traction and shrunk BTC&#8217;s predominance. 
The post <a href="https://cryptopotato.com/michael-saylor-thinks-the-sec-crackdown-could-boost-bitcoins-dominance-to-80/" rel="nofollow">Michael Saylor Thinks The SEC Crackdown Could Boost Bitcoin&#8217;s Dominance to 80%</a> appeared first on <a href="https://cryptopotato.com/" rel="nofollow">CryptoPotato</a>.

Michael Saylor Thinks The SEC Crackdown Could Boost Bitcoin’s Dominance to 80%

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