Strategy CEO Michael Saylor publicly supported newly appointed SEC Chairman Paul Atkins, who said on April 23 that Atkins “will be good for Bitcoin.”
The statement comes days after Atkins was sworn as SEC’s 34th Chairman at a White House ceremony led by Treasury Secretary Scott Bescent. Previously working with the SEC from 2002 to 2008, Atkins is co-chair of the Token Alliance and has a background in digital assets, including his role as an advisor to the now-deprecated crypto exchange FTX.
The previous micro-tactic has recently added 6,556 BTC to its holdings for around $555 million, bringing it to 538,200 BTC, over $50.5 billion. Saylor also revealed that the strategy’s Bitcoin yield reached 12.1% per year. In the tweet, he hinted at the purchase on a chart labeled “Insufficient Orange” referring to the market supply of Bitcoin. According to Saylor, over 13,000 financial institutions and 814,000 retail accounts hold strategic shares, indirectly exposing 55 million people to Bitcoin through ETFs, pensions, insurance portfolios and mutual funds.
Vincent Liu of Kronos Research said Atkins is expected to finalise custody rules and clarify the asset classification. He emphasized the importance of guardrails such as industry ties disclosure and ethics supervision to avoid conflicts of interest.
Atkins’ appointment, the mixed reaction is depicted. While some in the crypto industry see his leadership as a positive change, Sen. Elizabeth Warren criticised his judgment during his previous SEC office, questioning consulting work at Patmac Global Partners and advised FTX before it collapsed. Warren said the Atkins company charged clients more than $1,200 an hour, accusing them of being in a position to benefit past clients. She also raised concerns about his financial disclosures. This showed individual and family assets worth more than $327 million.
Blue Macellari from T. Rowe Price welcomed the recent SEC-led roundtable with industry experts as a sign of a more open approach to cryptographic regulation. She believes this involvement could lead to more thoughtful policy decisions. Bitwise adviser Katherine Dowling and Ripple CEO Brad Gerlinghouse also expressed support, calling Atkins a “great choice” and saying he would return “common sense” to the agency.
In parallel with these regulations developments, Bitcoin will continue to function strongly. As of April 23rd, it had grown by 5% to around $94,000. Market observers are keeping a steady momentum as long-term holders and institutional investors maintain confidence despite regulatory uncertainties.