8 out of the 10 largest banks in the US are involved with crypto lending, says Michael Saylor

Source: PortaldoBitcoin Original Title: 8 out of the 10 largest US banks are involved with crypto lending, says Michael Saylor Original Link: https://portaldobitcoin.uol.com.br/8-dos-10-maiores-bancos-dos-eua-oferecem-servicos-de-criptomoedas-diz-michael-saylor/ The founder of Strategy, Michael Saylor, highlighted at a public event on Thursday [image]4( that the highest level of the traditional financial market has radically changed its mind about Bitcoin in a short period of time. The executive emphasized that out of the ten largest banks in the US, eight are involved in crypto lending.

“All of these have changed from a hostile, negative, or skeptical environment to a positive outlook in the last 12 months,” said Saylor, who attended an event in Dubai this week. “It used to be a scenario where I couldn’t see eye to eye with any of the big banks about Bitcoin.”

Another example cited by Saylor is that Schwab, a US financial services company, announced that at the beginning of next year it will start custodying Bitcoin and granting credit with cryptoassets as collateral, and that Citi Bank announced it will follow the same path.

According to Saylor, in the last 12 months, giants like Citi, JPM, Wells Fargo, BofA, and Vanguard have become pro-crypto. Currently, 8 of the top 10 American banks offer loans backed by cryptoassets.

Saylor and Bitcoin

Founded by Saylor, Strategy holds 650,000 bitcoins, valued at around $60 billion and representing 3.1% of the total BTC supply.

For having founded the largest BTC treasury in the world, Michael Saylor has become a kind of spokesperson for Bitcoin among institutional investors. Recently, the entrepreneur emphasized that the fluctuation in the price of the cryptocurrency should not be seen as a problem, but as a fundamental part of its nature.

According to the head of Strategy, volatility is “a feature, not a bug,” and plays an important role in the price discovery of an asset still in the process of global adoption.

Regarding his strategy of investing in Bitcoin through Strategy, Saylor pointed out that the BTC treasury company could withstand a drop of up to 90% and still continue operating.

“The company was designed to withstand an 80% to 90% drop and keep operating. So, I think we’re pretty much indestructible. Our leverage is, you know, in the 10 to 15% range, heading toward zero now, which is extremely robust,” Saylor said.