A leading figure in the cryptocurrency market, Michael Saylor is known for his strong advocacy of Bitcoin (BTC) technology. As Kriptokoin.com, we have compiled the famous billionaire’s Bitcoin and altcoin statement for you.
Billionaire holding Bitcoin made statements
In 2020, amid the global economic effects of the pandemic, Saylor’s company MicroStrategy began buying large amounts of Bitcoin. Under Saylor’s direction, MicroStrategy purchased 21,454 BTC in August 2020 and continued to accumulate cryptocurrencies, positioning Saylor as a key player in the BTC market.
In addition to MicroStrategy’s role in leading Bitcoin acquisitions, Saylor has made private investments in cryptocurrency and has openly expressed support for cryptocurrency, especially in comparison to other digital assets. He believes that Bitcoin is the most mature and robust cryptocurrency and offers the best investment opportunities for both investors and users.
In 2022, when asked on Twitter by cryptocurrency exchange Bitfinex which three cryptocurrencies they would choose to invest $100 million in, Saylor immediately replied: Bitcoin, Bitcoin and Bitcoin. He confidently stated that even after his correction last year, BTC would be ‘worth millions’.
What does Saylor think about Ethereum?
Michael Saylor is known for his critical stance towards Ethereum (ETH) and its capabilities as a cryptocurrency. He believes that ETH has yet to prove its technical and ethical stability and therefore needs to be monitored for five to ten years before it can be considered reliable. Saylor also highlights the importance of ensuring that the protocol cannot be changed by anyone, including Vitalik Buterin, for ETH to have a chance to become a global currency.
Saylor views Ethereum as a financial asset issued by a company rather than a commodity due to its emergence through an Initial Coin Offering (ICO) and the existence of a management team responsible for its management. He argues that the existence of an issuer eliminates the possibility of a cryptocurrency being considered a commodity.
The former CEO of MicroStrategy also criticized the centralization of ETH, arguing that frequent hard forks make it vulnerable to changes made by the development team. Saylor claims that such significant changes to the protocol mean that the development team has made decisions, and that if the monetary protocol could be changed, Ethereum could fall under the classification of an investment contract under the securities law.
Saylor no longer a Bitcoin maximalist?
Recently, an audio recording allegedly featuring Michael Saylor has gained attention online. In the audio recording, Saylor allegedly stated that he was fed up with Bitcoin and wanted to sell it, but was waiting for a breaking point. He also reportedly expressed dislike for the maximalists of the primary cryptocurrency and regretted not investing in Ethereum instead.
This alleged change of stance from someone who has historically been critical of Ethereum raises questions about the authenticity of the record and whether it is a scam created using artificial intelligence, a trend that will become more prevalent in 2023.
Saylor’s strong preference for Bitcoin can be seen in his public statements and tweets, and if his ideas are important to Ethereum holders, they may need to wait for the manager to take a closer look at the altcoin.
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