MicroStrategy CEO Michael Saylor believes it’s okay to gamble with Dogecoin (DOGE) as long as you don’t make your family poor.

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In an interview with NorthmanTrader’s Sven Henrich on July 3, MicroStrategy CEO Michael Saylor drew parallels between buying Dogecoin and playing Russian roulette in Las Vegas:

“I’m going to buy Dogecoin before Elon Musk goes on Saturday Night Live. I’ll go to Vegas and bet on Black.”

However, the billionaire believes that it is unethical to gamble on meme stocks or meme cryptocurrencies unless you impoverish your family:

“We shouldn’t tell adults what they can’t do. If they want to gamble with sports results or they want to gamble in Vegas or they want to gamble on a meme. It’s okay as long as you don’t impoverish your family.”

Saylor claims that those who invest in cryptocurrencies by researching promising companies or use cases are actually investing in the future.

Regulatory Risks

The MicroStrategy boss also says the regulator is vaguely a “bulge” for the entire cryptocurrency market:

“I think the market would be bigger without it.”

He thinks decentralized exchanges and decentralized applications pose the greatest risk because they are “too ambitious”:

“If regulators aren’t happy with the exchanges currently offering Bitcoin and Ethereum futures in London, they certainly won’t be happy with DeFi exchanges offering Bitcoin/Ethereum futures.”

According to Saylor, decentralized private currencies such as the leading stablecoin Tether pose a “direct threat” to central bank digital currencies and therefore cannot escape the eyes of regulators. The billionaire expects his “Tether FUD” to have a ripple effect on Bitcoin and Ethereum.