Those Altcoin Shocking Words from MicroStrategy CEO: “It Will Never Succeed!”

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Michael Saylor, CEO of MicroStrategy Ethereum He attracted attention with his comments that made bold statements about. Saylor categorized ETH as a crypto asset security rather than a commodity.

Speaking at the MicroStrategy World 2024 conference Michael Saylorclaimed that altcoins including ETH and BNB, Solana, XRP and Cardano are unlikely to receive approval for a spot ETF from the US SEC.

Saylor categorizes Bitcoin as the “one universal” crypto asset suitable for institutional investments. with description drew attention. According to Saylor, it will never attract such a high level of institutional interest as other assets.

Saylor’s words were particularly harsh on Ethereum. It reflects MicroStrategy’s unwavering focus on Bitcoin, exemplified by its recent announcement that it added $1.65 billion worth of BTC to its institutional reserves in the first quarter.

MicroStrategyMicroStrategy Orange has further strengthened its commitment to the Bitcoin ecosystem by launching Bitcoin-based products such as its decentralized identity (DID) product.

Although financial giants such as BlackRock and Fidelity advocate for inclusion in the Ethereum ETF, concerns remain. While the SEC is investigating Ethereum’s status as a security, they are cautious about identifying Ethereum ETFs. ConsenSys even filed a lawsuit with the SEC to classify Ethereum as a non-security asset.

If approved, Spot Ethereum ETFs would provide Wall Street firms and investors with indirect exposure to ETH, providing an alternative to surfing crypto exchanges or managing digital wallets. Despite Hong Kong recently approving a spot Ethereum ETF, the future of such products in the United States remains uncertain, pending regulatory clarity from the SEC.

According to Bloomberg analyst James Seyffart, an Ethereum ETF is unlikely in 2024 but possible in 2025. SEC approval of spot ETH ETFs in May is questionable as it is not a good indicator.


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