New SEC Chairman Supports Bitcoin, What Does Michael Saylor Say?
Jakarta, Pintu News – Michael Saylor, founder of Strategy, who is known as a staunch Bitcoin (BTC) supporter, recently expressed his views on the appointment of Paul Atkins as the new chairman of the United States Securities and Exchange Commission (SEC). Saylor believes that Atkins’ leadership will have a positive impact on the Bitcoin ecosystem.
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Paul Atkins, Newly Appointed Crypto Advocate
Paul Atkins, who was recently sworn in as SEC chairman, is known to have a favorable view on the development of digital assets. In a ceremony held at the White House, Atkins stated that one of his top priorities would be to establish a strong regulatory foundation for digital assets.
A rational and consistent approach is key to his vision. Michael Saylor, through the X platform, shared a video of Atkins’ inauguration, asserting that Atkins’ leadership would be beneficial for Bitcoin. Atkins is not just a supporter, but has also been involved in various crypto-related initiatives.
In 2017, he was elected co-chair of the Token Alliance, a group that advocates for improved cryptocurrency regulation. Atkins was also an advisor to crypto exchange FTX, which went bankrupt in November 2022.
Read also: Charles Hoskinson Predicts Ethereum (ETH) Will Collapse in 15 Years, Here’s His Analysis!
Bitcoin Buying Strategy by Strategy
Recently, Strategy, a company founded by Saylor, added to their Bitcoin holdings. The company managed to acquire a total of 6,556 BTC at a total cost of around $555 million, with a price per Bitcoin of around $84,785.
With this latest purchase, Strategy now owns a total of 538,200 BTC, valued at nearly $50.52 billion. The purchase was announced a day after Saylor shared a chart showing Strategy’s accumulation of Bitcoin.
The chart, filled with orange dots, indicates that a massive buying spree is about to take place. Saylor also revealed that the Strategy has achieved a Bitcoin yield of 12.1% since the beginning of this year.
Also read: 3 Crypto Rivals of XRP that Many Investors Are Eyeing Right Now!
Bitcoin Expansion Through Strategy
According to Saylor, Strategy does not simply involve a company investing its own funds in Bitcoin. Instead, Strategy functions similarly to a Bitcoin ETF, where many companies and financial institutions hold Bitcoin indirectly through them.
In the first quarter of this year, more than 13,000 financial institutions and 814,000 retail accounts owned MSTR shares directly. Saylor also mentioned that around 55 million beneficiaries have indirect exposure through ETFs, pension funds, and insurance portfolios. This indicates that the Strategy has become a significant channel for many investors to engage in the Bitcoin market.
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This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.
Reference
- U.Today. Michael Saylor Praises New SEC Chair Atkins, Will Be Good to Bitcoin. Accessed on April 25, 2025
- Featured Image: Cryptoslate