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Crypto Civil War & Wall Street’s ‘24 Agenda

News and notes on Bitcoin’s true believers, BuzzFeed’s self-immolation, Buffett’s $19 million meal, and the cynical upside of divided government.

Michael Saylor
Michael Saylor, C.E.O. of MicroStrategy. Photo: Joe Raedle/Getty Images
William D. Cohan
June 26, 2022

Following the most recent collapse of the crypto market, MicroStrategy C.E.O. Michael Saylor, who turned his software company into a highly levered bet on Bitcoin, is calling on the government to step in and regulate the 20,000 or so competing digital tokens in circulation as “unregistered securities.” The idea is to differentiate these projects—a large portion of which are jokes or scams or outright Ponzis—from Satoshi Nakamoto’s ur-digital asset, Bitcoin, which Saylor likens to a hard commodity such as gold.