Wednesday, August 4

MicroStrategy CEO Michael Saylor Warms Up To Ethereum (ETH)

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saylor ethereum

MicroStrategy CEO Michael Saylor, who has become a rock star in the crypto money industry with his Bitcoin (BTC) purchases, now seems to be warming up to Ethereum (ETH).

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MicroStrategy CEO Michael Saylor made some rare comments about Ethereum, the second largest cryptocurrency, on CNBC’s Fast Money on June 15. The Bitcoin bull claimed that Ethereum is trying to dematerialize* exchanges and financial institutions:

“I think as the market starts to understand these things, they will see there is a place for everyone.”

Saylor also clearly states that he is a Bitcoin maximalist, saying that the leading cryptocurrency is “the highest, most dominant digital network.” MicroStrategy currently holds 91,326 Bitcoins and plans to buy more in the near future.

In a recent interview, Saylor said his company’s investors have claimed that the cash on MicroStrategy’s balance sheet is a liability. According to the billionaire, Bitcoin investment has increased the strength of the brand “100 times”.

MicroStrategy also had its best quarter in history:

“The core business increased by 10 percent. The Bitcoin business is increasing shareholder returns. I think the employees are happy, the shareholders are happy.”

*Dematerialization: Dematerialization is the ability to track capital market instruments such as stocks or mutual funds electronically instead of physically printing them.

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