From Investing.com: 2024-05-11 07:30:21

Founder and chairman of MicroStrategy Michael Saylor issues a warning to investors seeking alternatives to Bitcoin. Saylor, a vocal Bitcoin advocate, believes BTC is the only valuable cryptocurrency. He predicts altcoins will be deemed securities, leaving only Bitcoin holders in a favorable position with BTC currently standing around $60,920 after a 5% drop.

Prominent analyst Michael van de Poppe predicts Bitcoin could drop to $55,000-$52,000 if it falls below the current range of $61,000-$60,000. Saylor’s strong stance on Bitcoin and criticism of altcoins aligns with his belief in BTC’s superiority. Bitcoin faces uncertainty as SEC scrutiny on altcoins intensifies.

Read more at Investing.com: Michael Saylor Issues ‘Indiana Jones Warning’ on Bitcoin (BTC) By U.Today