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Michael Saylor on Ethereum: "There's a Place for Everybody"

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Wed, 06/16/2021 - 05:05
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Alex Dovbnya
MicroStrategy CEO Michael Saylor appears to be warming up to Ethereum
Michael Saylor on Ethereum: "There's a Place for Everybody"
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MicroStrategy CEO Michael Saylor made some rare comments about Ethereum, the second-largest cryptocurrency, during his June 15 appearance on CNBC’s Fast Money.  
 
The Bitcoin bull claims that Ethereum is trying to dematerialize exchanges and the finance establishment:   

I think, as the market starts to understand these things, there’s a place for everybody.    

Saylor clearly remains a Bitcoin maximalist, saying that the flagship cryptocurrency is “the highest, most dominant digital property network.”

MicroStrategy currently owns 91,326 Bitcoins, and plans to buy more after recently raising $500 million worth of debt. On top of that, the company announced a $1 billion stock offering earlier this week.

Related
MicroStrategy Announces Yet Another Major Bitcoin Purchase

“Cash was trash”

In his latest interview, Saylor says that his company’s investors claimed that cash was a liability on MicroStrategy’s balance sheet.

The Bitcoin bet has increased the power of the brand “by a factor of 100,” according to the billionaire.

Apart from making a killing with its cryptocurrency investment, MicroStrategy’s software business also had its best quarter in history:

The core business is up 10 percent. The Bitcoin business is driving shareholder returns. I think the employees are happy, the shareholders are happy.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.