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<p><strong>Michael Sailor</strong> believes that the withdrawal of <strong>miners</strong> from the <strong>PRC</strong> will benefit <strong>cryptocurrency mining</strong> enterprises in the United States, which have already begun to receive 50% more profit.</p>



<p>The <strong>Chinese </strong>authorities made a big mistake by tightening the regulation of <strong>mining and crypto trading</strong>, <strong>MicroStrategy</strong> CEO <strong>Michael Sailor</strong> said in an <a href="https://www.bloomberg.com/news/videos/2021-06-25/why-microstrategy-s-ceo-isn-t-concerned-about-bitcoin-moves-video?utm_medium=social&;cmpid%3D=socialflow-twitter-tech&;utm_content=tech&;utm_campaign=socialflow-organic&;utm_source=twitter" target="_blank" rel="noreferrer noopener">interview with <strong>Bloomberg</strong></a> . </p>



<p>According to him, <strong>China </strong>had a 50% share of the <strong>bitcoin mining market</strong>, which generated about $ 10 billion a year.</p>


<blockquote class="twitter-tweet">
<p lang="en" dir="ltr">China&#8217;s Bitcoin crackdown will be a &#8220;trillion-dollar mistake.&#8221;</p>
<p>MicroStrategy CEO Michael Saylor talks to <a href="https://twitter.com/emilychangtv?ref_src=twsrc%5Etfw">@emilychangtv</a> <a href="https://t.co/Eu4ZAUjjhD">https://t.co/Eu4ZAUjjhD</a> <a href="https://t.co/AJ951tFr39">pic.twitter.com/AJ951tFr39</a></p>
<p>— Bloomberg Technology (@technology) <a href="https://twitter.com/technology/status/1408548433292677140?ref_src=twsrc%5Etfw">June 25, 2021</a></p></blockquote>
<p> <script async="" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>



<p class="has-text-align-center"><strong><em>“Given the rate of growth of bitcoin, this would be a trillion dollar mistake,” said Sailor.</em></strong></p>



<p>The head of <strong>MicroStrategy</strong> noted that the exodus of <strong>miners from China</strong> will benefit <strong>North American cryptocurrency mining</strong> enterprises, which have already begun to receive 50% more profit due to the fact that Chinese <strong>miners</strong> turned off their equipment.</p>



<p>Sailor claims that due to the need to move and transport equipment to other countries, <strong>Chinese miners</strong> were forced to start selling the <strong>mined cryptocurrency</strong>. </p>



<p>This is what led to the surge in volatility in the <strong>crypto market</strong> that was observed last week, says Sailor.</p>



<p><strong>MicroStrategy</strong> is the largest <strong>cryptocurrency</strong> holder among publicly traded companies. <a href="https://cointopsecret.com/2021/06/22/microstrategy-announced-the-purchase-of-bitcoin-for-almost-another-500-million/">The last time the company bought 13 thousand <strong>bitcoin</strong> for about $ 489 million</a>, it happened on June 21. <strong>MicroStrategy</strong> currently owns 105,000 <strong>digital coins</strong>.</p>



<p><strong>Chinese</strong> authorities have called for stricter regulation of <strong>mining and crypto trading</strong> in May. Since then, <a href="https://cointopsecret.com/2021/06/20/electricity-to-miners-to-be-cut-off-in-sichuan-until-june-20/">a <strong>ban </strong>on the <strong>mining of cryptocurrency</strong> has been introduced in four provinces of the PRC ( <strong>Sichuan</strong> , <strong>Yunnan </strong>, Qin<strong>g</strong>hai and <strong>Xinjiang</strong> )</a>, and banks and other financial institutions in <strong>China</strong> have been <strong>banned</strong> from conducting operations related to <strong>cryptocurrency</strong>.</p>



<p>The vice president of <strong>mining</strong> company Foundry said that already about <a href="https://cointopsecret.com/2021/06/23/70-of-chinese-miners-shut-down-hardware/">70% of <strong>Chinese</strong> enterprises for the extraction of <strong><strong>cryptocurrency</strong></strong> have stopped operations and turned off equipment</a>.</p>



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