- Michael Saylor has changed his mind on Ethereum
- Does this mean that he will add ETH to MicroStrategy’s balance sheet?
Michael Saylor said there is a place for all cryptos. More so, he noted that these cryptos serve different purposes. In addition, he said while BTC acts as digital property, ETH works on disrupting traditional finance.
Further, Saylor, who has become a bull in the crypto industry with his Bitcoin purchases, once said there is no second best crypto. However, it seems he is changing his mind on ETH. First, let’s note that Ethereum is the second-largest crypto by market value.
Furthermore, Michael Saylor said,
You’re going to want to build your buildings on a solid footing of granite, so Bitcoin is made to last forever — high integrity, very durable. Ethereum is trying to dematerialize exchanges and the finance establishment.
In the interview, Saylor said different cryptos serve many purposes. But it might take time for newcomers to the digital asset space to see those details.
“I think that as the market starts to understand these things, there’s a place for everybody,” added Saylor.
Does this mean that he will add ETH to MicroStrategy’s balance sheet? The time will tell us soon.
Last week, MicroStrategy Inc. raised the size of a junk bond sale to buy more Bitcoin, selling $500 million notes in the high-yield market. According to its official announcement, the notes will be sold in a private offering to qualified institutional buyers.
MicroStrategy is one of the top institutional names that hold Bitcoin. This includes Jack Dorsey-led Square Inc., Tesla Inc, and more.