Dogecoin (DOGE), an altcoin without a real one use case and come to life as ‘meme crypto.’ However, many swear that DOGE will rise to $1, while others have no confidence at all. Someone who sees the glass as half empty when it comes to actual use cases is MicroStrategy CEO Michael Saylor. In an interview with NorthmanTrader, he was clear about how he feels about the meme crypto.
Michael Saylor and his MicroStrategy are seen as one of the figureheads of the bitcoin (BTC) adoption. The company has invested billions of dollars in bitcoin over the past few months. With those investments, MicroStrategy now owns 105,084 bitcoins with a current value of $3.7 billion. This puts the company more than a billion dollars in plus.
However, for him, dogecoin is not really a long-term investment. He sees it more as gambling on a meme, something that is not wrong, according to the CEO. “As long as you don’t make your family poor,” Saylor said in context of laws and regulations:
“I’m going to buy Dogecoin before Elon Musk goes to Saturday Night Live. I’m going to Vegas and bet on black. We shouldn’t tell adults they shouldn’t. If they want to gamble on sports results or if they want to gamble in Vegas, or if they want to gamble on a meme… As long as it’s in your bucket and you don’t make your family poor.”
“The market would have been bigger without regulations”
Saylor took a closer look at cryptoland’s laws and regulations. Both the lack of it and the general uncertainty about what can and cannot be done (think of the Ripple lawsuit) would dampen growth. “I think the market would be bigger without all of this,” Saylor said.
Nor does he expect that Decentralized Finance (DeFi) applications such as decentralized exchanges and stablecoins can evade potentially strict legislation.
“If the regulators are not happy right now with exchanges offering Bitcoin and Ethereum futures in London [De waarschuwing aan het adres van Binance], they certainly won’t be happy with DeFi exchanges offering Bitcoin/Ethereum futures.”
Watch the nearly two-hour interview with Saylor below.
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