Bitcoin Lifeboat, Long Recovery Road, & Exaggerated BTC Deaths: Saylor, CZ, and Professor Weigh In

cryptonews.com:

Bitcoin (BTC) is “a lifeboat,” says Michael Saylor, while  Binance'sChangpeng Zhao (CZ) warns that BTC could still stay below its all-time high for two years, and an adjunct professor of law calls the reports about Bitcoin’s death “exaggerated.”

Among the experts who have spoken out about Bitcoin in recent days is Michael Saylor, a well-known bitcoin bull and one of the world’s largest holders through his company MicroStrategy.

Speaking on CNN on Monday, Saylor suggested that Bitcoin is a form of salvation for people suffering from rising prices and currency devaluations.

“Are you going to stay on a sinking ship or are you going to get on a lifeboat and be tossed about on the stormy sea,” Saylor said, noting that “bitcoin represents that lifeboat” for those who can “take the long view and focus on the fundamentals.”

Asked what it will take for BTC to “go back up” and whether regulation is required for that to happen, Saylor replied that “people are confused and regulation will be constructive because clarity will help the market mature.”

“The people are confused about what’s a currency, what’s a commodity, what’s a security, what are tokens,” he said, and argued that, 

“As the regulators come in and they clear up this confusion,“ the industry will be “catapulted“ from “the offshore, anything goes stage, and into an institutional mature asset class.” 

And while Saylor remained an optimist, Changpeng Zhao (CZ), the CEO of the world’s largest crypto exchange Binance, was more practical in his approach when asked by the Guardian about the state of the market.

While reminding readers that “no one can predict the future,” Zhao told the Guardian that, 

“I think given this price drop, from the all-time high of [USD] 68k to 20k now, it