Mon Sep 09 15:18:45 UTC 2024: ## Republicans Embrace Crypto, Democrats Hesitant: MicroStrategy CEO
**New York, NY** – MicroStrategy’s Executive Chairman, Michael Saylor, has asserted that Republicans are significantly more supportive of cryptocurrencies, particularly Bitcoin, than Democrats. Speaking on CNBC, Saylor attributed this to a “pro-crypto stance” taken by the Republican party, particularly under the leadership of former President Donald Trump.
“The Republicans have shifted to way progressive [on crypto] and the Democrats are drifting to the middle,” Saylor stated. He did not offer specifics on the Democrats’ stance, but implied that their views on cryptocurrencies were more moderate compared to the Republican enthusiasm.
Saylor, a vocal Bitcoin advocate and proponent of MicroStrategy’s heavy investment in the cryptocurrency, brushed off recent market volatility that saw Bitcoin prices drop to a seven-month low. He remains confident that Bitcoin will eventually become a major asset class, reaching 7% of global capital, or a price of $13 million, in the next two decades.
MicroStrategy, now primarily focused on its Bitcoin strategy, has amassed over $8.3 billion worth of Bitcoin since August 2020, driving a significant increase in its share price. While acknowledging the recent dip in Bitcoin’s performance and its subsequent impact on MicroStrategy’s stock, Saylor’s bullish outlook on Bitcoin remains unshaken.
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