business mogul Michael Saylora major Bitcoin BTC/USD extremist and co-founder MicroStrategy Inc MSTR has recently expressed its opinion on bitcoin ordinalsA development he sees positively.
What happened: Despite its potential use in a wide variety of applications, Saylor believes that many of the early use cases for ordnance “were not very serious” and tended to be more speculative.
Ordinals are escrows that operate in a similar manner to NFTs or non-fungible tokens, which are primarily Ethereum ETH/USD Network. Labels allow arbitrary and non-financial information, such as images, to be included on the bitcoin blockchain. Whereas, BRC-20 means bitcoin request for commentand is an experimental framework designed to create alternative tokens on bitcoin using the Ordinals protocol.
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why it matters: In an interview with Decrypt, Saylor cautioned against the misuse of these alternative tokens: “If BRC-20 tokens are seen as alternative tokens for issuing unregistered securities, there is a lot of objection, because it is unethical. . It’s illegal. And you can’t blame the community for objecting to that.”
However, the seller says that there is no problem with BRC-20 tokens if they are issued and regulated in a legal and ethical manner. He stressed that the key lies in the token’s notion and use-case, such as his idea of tokenizing stocks and ETFs trading on the NASDAQ. This way, investors can take individual control of their shares of stock rather than leaving them in the care of a centralized custodian.
Price Action: At the time of writing, BTC was trading at $27,343.78, up 2.26% over the past 24-hours, according to Benzinga Pro.
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