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Markets: 83121
Market Cap: $1,975,203,902,777     
24h Vol: $64,901,144,366
Seeking Alpha 2022-11-10 16:14:37

Microstrategy's Saylor: `We feel like we are trapped in a dysfunctional relationship with crypto'

Microstrategy's Saylor: `We feel like we are trapped in a dysfunctional relationship with crypto'
Microstrategy ( NASDAQ: MSTR ) co-founder and chairman Michael Saylor said the blow up of crypto exchange FTX highlights the importance of bitcoin ( BTC-USD ). "We saw what can go wrong if a centralized token, trading on an unregistered exchange, blow up this week," Saylor said in a CNBC interview . "I think the bitcoiners have been predicting this for a long time. Speaking for all the bitcoiners, we feel like we are trapped in a dysfunctional relationship with cypto and we want out." "I think the industry need to grow up and the regulators are coming into this space," Saylor said. Saylor said that now is a "really good time" to be accumulating bitcoin. Earlier Thursday, Galaxy Digital's Novogratz said FTX news is a "body blow" to crypto industry trust. Also earlier Thursday Bitcoin, ether pare some of week's losses after cooler October inflation.
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