Bitcoin’s dominance of the cryptocurrency markets will nearly double as more investors gravitate to the original digital asset while regulators continue to crack down on the sector, according to MicroStrategy Inc.’s Michael Saylor.
Bitcoin currently accounts for nearly 48% of crypto’s $1 trillion market value, according to data tracker CoinMarketCap. Its dominance will rise to 80%, as other coins are declared securities by regulators and their use is reduced, Saylor said in a Bloomberg Television interview. MicroStrategy is the enterprise-software that Saylor co-founded and has made into the largest public holder of the cryptocurrency.
