As an analyst with a background in cryptocurrency and experience following the industry’s key players, I find Michael Saylor’s recent endorsement of Ethereum ETFs and recognition of Ethereum’s potential advantages intriguing. Saylor has long been considered a Bitcoin maximalist, advocating for the leading cryptocurrency as the primary digital asset class to invest in.
Michael Saylor, a prominent Bitcoin advocate and MicroStrategy co-founder, has expressed optimism about recently approved Ethereum exchange-traded funds (ETFs). In a recent interview on the “What Bitcoin Did” podcast, he anticipated that these new ETFs would pave the way for mainstream institutional acceptance of cryptocurrencies.
Saylor, a prominent advocate for Bitcoin, posits that Ethereum ETFs could cause investors to increase their portfolio allocation towards digital currencies, which might rise from the current 1% to anywhere between 5-10%. Nevertheless, Bitcoin is predicted to remain the dominant force with approximately 70% of these investments under its influence, as it leads the crypto asset class.
Saylor discusses the implications of the Ethereum ETF approval and how recent cryptocurrency regulatory shifts might influence Bitcoin.
— Beagle (@BeagleBitcoin) May 25, 2024
“Admitting some truth to Ethereum’s strengths, Saylor acknowledged, ‘It could actually benefit Bitcoin that we possess greater political clout…with the entire cryptocurrency sector backing us.'”
This marks a notable change in his stance after his surprise endorsement of Ethereum as a worthwhile investment.
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2024-05-26 13:08