Ethereum
Will Saylor buy Ethereum ETFs?
Michael Saylor Changes Tune on Ethereum (ETH): Will Saylor Buy Ethereum ETFs?
Michael Saylor, president of MicroStrategy, is a strong supporter of Bitcoin, frequently discussing its benefits on various platforms. MicroStrategy has more than 1% of the total Bitcoin supply and Saylor’s personal assets. Despite his focus on Bitcoin, Saylor recently started talking about Ethereum.
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Saylor appeared on the “What Bitcoin Did» podcast at the end of May to discuss his views on Bitcoin and crypto. “Bitcoin was going to be the only asset securitized and offered as a spot ETF by the Wall Street establishment – and it was going to spread as the only legitimate crypto asset. “, Saylor noted.
Saylor was referring to the recent progression of spot Ethereum ETFs to the next stage of approval, which took place just days before the interview. Although prospects for approval were initially bleak through much of 2024, the SEC is now examining each application more closely. Speculation suggests trading could begin by the end of summer.
The advancement of Ethereum ETFs surprised everyone, including Saylor. Previously, Saylor believed that Bitcoin was the only crypto asset worth investing in, with other cryptocurrencies simply mimicking Bitcoin’s success. However, the approval of ETFs arguably legitimizes Ethereum in the eyes of institutional investors.
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For years, Saylor has focused on Bitcoin’s limited supply and its use of blockchain for transactions. However, during the interview, he acknowledged the benefits of Ethereum, noting that “digital art, NFTs, tokens,…DeFi” are all part of “a whole range of use cases » of cryptography.
Although he recognizes the advantages of Ethereum, Saylor still believes that Bitcoin will remain the crypto leader. He noted that institutional investors might “allocate 5% or 10% to the crypto asset class, but Bitcoin will be 60% to 70%.” Ethereum ETFs could attract new crypto investors who will also buy Bitcoin.
This raises the question of whether Saylor will invest in Ethereum ETFs. Based on his interview comments, his top crypto choice remains Bitcoin. Although he recognizes some advantages of Ethereum and other tokens, he believes these advantages will attract more people to Bitcoin. “I think we are much more powerful politically [when] supported by the entire crypto industry,” he said. With this in mind, it seems unlikely that Saylor will make significant investments in Ethereum ETFs, although it is not entirely out of the question.
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