Michael Saylor Praises New SEC Chair: ‘Atkins Will Be Good to Bitcoin’

Michael Saylor, a steady Bitcoin permabull and founder of the BTC-powered company Strategy, has shared his take on the newly appointed chairman of the US Security and Exchange Commission (the SEC) – Paul Atkins.

New SEC chairman “will be good to Bitcoin,” Saylor believes

In his tweet, Saylor shared a video excerpt showing president Donald Trump and Atkins, giving a speech as he swore in during a White House ceremony officiated by Treasury Secretary Scott Bessent. A top priority of his chairmanship with the SEC, Atkins said, would be the establishing of a firm regulatory foundation for digital assets through a “rational, coherent, and principle approach.”

As Saylor shared that video with millions of his followers on the X platform, he added a caption, saying: “SEC Chairman Paul Atkins will be good for Bitcoin.”

Atkins is known to be a big crypto supporter. As reported by U.Today, in 2017, Atkins was elected a co-chair of the Token Alliance – a famous group that lobbied cryptocurrencies. He was also among advisors of the currently defunct crypto exchange FTX which filed in bankruptcy in November 2022.

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Strategy grabs another half-billion USD Bitcoin chunk

Earlier this week, Michael Saylor announced that his brainchild Strategy added more Bitcoin to its balance sheet. This time, the company acquired 6,556 BTC for approximately $555.0 million, buying one Bitcoin for roughly $84,785.

As of April 20 this year, the company holds a total of 538,200 BTC worth $50,516,479,962. On April 20, a day before the BTC purchase announcement was made, Saylor published a tweet with a chart showing orange dots indicating Strategy’s Bitcoin accumulation. “Insufficient Orange,” the Bitcoin bull tweeted, hinting at the upcoming BTC purchase.

In the same tweet, where Saylor mentioned the new Bitcoin buy, he also shared that Strategy has reached a Bitcoin yield of 12.1% year-to-date this year.

It has also turned out that a lot of companies are holding Bitcoin indirectly, using Strategy as a BTC ETF. According to Saylor’s tweet issued on April 20, as of the first quarter this year, more than 13,000 financial institutions and 814,000 retail accounts hold MSTR directly. The tweet also reveals that “an estimated 55 million beneficiaries have indirect exposure through ETFs, mutual funds, pensions, and insurance portfolios.”