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Bitcoin Commentary and Holdings Updates Reported This Week
Michael Saylor of MicroStrategy and Kevin O'Leary discussed Bitcoin price levels and regulatory needs. SpaceX disclosed its Bitcoin holdings and Pudgy Penguins extended a sports partnership.
May 24, 8:01 AM·1m read1 source
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Stated that Bitcoin would have been trading between $40,000 and $50,000 without his company's involvement. MicroStrategy is the world's largest corporate holder of Bitcoin, owning approximately 818,000 units. Saylor believes that even without his company, Bitcoin would have found success, but MicroStrategy's involvement accelerated its price appreciation.
Kevin O'Leary, the "Shark Tank" star, emphasized the need for a crypto bill to pass for Bitcoin and tokenization to move beyond the fringes for major institutional players. He believes that global compliance within the SEC through the passage of a bill will change everything.
With the midterms approaching in November, O'Leary sees the present as the perfect opportunity to pass legislation.
SpaceX revealed its Bitcoin holdings ahead of its IPO.
The disclosure came as part of routine updates on corporate cryptocurrency positions.
The popular NFT brand Pudgy Penguins is extending its partnership with Manchester City Soccer Club. The extension continues an existing commercial arrangement between the two entities.
