Etherеum

Is Michael Saylor Finally Interested in Ethereum (ETH)?

As a leading figure on the cryptocurrency market, Michael Saylor is widely recognized for his strong advocacy of Bitcoin (BTC) technology. In 2020, amid the global economic impacts of the pandemic, Saylor’s company, MicroStrategy, began purchasing large amounts of Bitcoin. Under Saylor’s direction, MicroStrategy acquired 21,454 BTCs in August 2020 and has continued to accumulate the cryptocurrency, positioning Saylor as a significant player on the BTC market.

In addition to his role in leading MicroStrategy’s Bitcoin purchases, Saylor has also made private investments into the cryptocurrency and publicly voiced his support for it, particularly in comparison to other digital assets. He holds the belief that Bitcoin is the most mature and robust cryptocurrency and offers the best investment opportunities for both investors and users.

In 2022, when asked by the cryptocurrency exchange Bitfinex via Twitter to name the three cryptocurrencies they would choose to invest $100 million in, Saylor quickly responded with: Bitcoin, Bitcoin and Bitcoin. He confidently stated that BTC will “be worth millions” even after the correction it experienced in the previous year.

What does Saylor think about Ethereum?

Michael Saylor is known for his critical stance toward Ethereum (ETH) and its capabilities as a cryptocurrency. He believes that ETH has yet to prove its technical and ethical stability and thus needs to be monitored for five to ten years before it can be considered reliable. Saylor also emphasizes the importance of ensuring that the protocol cannot be altered by anyone, including Vitalik Buterin, if ETH is to have a chance of becoming a global currency.

Saylor views Ethereum as a financial asset issued by a company, rather than a commodity, due to its origin through an Initial Coin Offering (ICO) and the existence of a management team responsible for its administration. He argues that the presence of an issuer negates the possibility of a cryptocurrency being considered a commodity.

The former CEO of MicroStrategy has also criticized the centralization of ETH, arguing that its frequent hard forks make it vulnerable to changes by the development team. Saylor claims that such significant changes to the protocol mean that the development team is making decisions, and if the monetary protocol can be altered, Ethereum may fall under the classification of an investment contract under securities law.

Is Saylor no longer a Bitcoin maximalist?

Recently, an audio recording that purports to feature Michael Saylor has gained attention on the internet. In the audio, Saylor is alleged to have stated that he is tired of Bitcoin and wishes to sell it but is waiting for a breakeven point. He is also reported to have expressed his dislike for the maximalists of the primary cryptocurrency and regret for 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 recording and whether it may be a hoax created using artificial intelligence, a trend that is becoming more prevalent in 2023.

Saylor’s strong preference for Bitcoin can be seen in his public statements and tweets, and if his opinions are important to Ethereum holders (which does not appear to be the case), they may need to wait until the executive takes a closer look at the altcoin.

   

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