CandleFocus MicroStrategy's Saylor Shares Stunningly Bullish Bitcoin Rumor
2024-09-20
Author: Content Editor
MicroStrategy CEO Michael Saylor has stated that there are rumors circulating about major US banks being granted permission to custody Bitcoin. This came up during a discussion regarding the Bank of New York Mellon (BNY) receiving an exemption from the SEC's SAB 121 rule, which mandates that digital assets be included in banking institutions' balance sheets. Proponents argue that this rule hampers innovation, while opponents, including SEC Chair Gary Gensler, defend it citing previous crypto bankruptcies. The Senate voted to repeal the rule in May, but it is uncertain if this will be confirmed by the courts.
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