Corporate giants may not follow MicroStrategy’s Bitcoin adoption play, Raoul Pal explains
Earlier this year, business intelligence giant MicroStrategy put $425 million of its treasury funds into (BTC). The move was largely seen as a big step in the right direction for mainstream Bitcoin adoption. MicroStrategy, with its CEO and founder Michael Saylor — a Bitcoin skeptic-turned bull — may not usher in massive corporate adoption for crypto’s pioneering asset, however, according to former hedge funder Raoul Pal.
“I don’t think Michael is going to drive corporate adoption in the space because he’s really speaking the language of Bitcoin and not the language of corporate treasurers, and that has to happen,” Pal told podcaster Peter McCormack on an episode of the What Bitcoin Did podcast, published today.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.