MicroStrategy CEO Michael Saylor made statements about Dogecoin and other meme coins like it. Saylor likened meme coins to gambling.
Michael Saylor made important statements about meme coins in a program he attended. “If you have enough money, you can gamble with speculative assets like Dogecoin,” Saylor said, adding that trading with these assets is equivalent to playing roulette in Vegas. According to Michael Saylor, investing in Dogecoin, Shiba Inu and many such meme coins is no different from gambling.
Saylor offered an alternative route to investors looking to buy Dogecoin. According to the CEO, people who want to invest in Dogecoin can go to play roulette in Vegas instead. According to Saylor, the rate of return on money given up for the roulette table is the same as the return on investment in meme coins. Saylor offers a condition for those who want to invest in meme coins: If you have enough money, you can invest.
“Adults are free and we can’t tell them what to do. If they want to play roulette in Vegas, they can do it. But for a while, people have been gambling with Dogecoin, of course they are free to do so, but their families should not impoverish.”
Michael Saylor says investors should turn to useful investments and support useful projects. According to him, investing in cryptocurrencies with a strong project could generate as much profit as early Apple stock investors.
Talking about the pressures and regulations on the crypto money markets, Saylor said that decentralized exchanges are very ambitious and pose great regulatory risks. Referring to how big problems even centralized exchanges have with the regulators, Saylor thinks that decentralized exchanges may face bigger problems. He says that this can directly affect the cryptocurrency market. In addition, Saylor predicts that Tether is a threat to CBDCs (central bank digital currencies) all over the world and therefore may experience pressure.