Cryptocurrency News

‘There is room for everyone’

Microstrategy chief Michael Saylor has room at heart for cryptocurrencies other than bitcoin, the billionaire revealed in an episode of CNBC fast money, In which he broadcasts his thoughts on the industry and where he sees things in the future.

In an interview with CNBC senior retail reporter Courtney Reagan on Tuesday, Sayler was initially asked why the software firm was buying BTC. The question refers to the company’s June 14 announcement Can sell up to $1 billion in stock For further BTC acquisition.

Saller described bitcoin as “digital gold on a large technological network”, predicting that it will be adopted by billions of people around the world.

Perhaps the most interesting comments in the interview came when fast money Co-host Guy Adami bought the topic of “Bitcoin maximalism” after Googling the term. He examined Sailor for his views on Ethereum and asked if there was room for ETH in the firm’s strategy as well.

Sayer said he sees bitcoin as a “digital asset” and the most valuable and dominant network, comparing it to the ecosystem’s building block foundation:

“Think of it like a granite block in Cyber ​​Manhattan. Then you have digital currency that’s like Tether and stablecoins, they want to be a money market in cyberspace… Then you have digital applications like Ethereum.

He added that “Ethereum is looking to dematerialize the JP Morgan building and banking establishment and all exchanges,”

He stressed that there is a place for different crypto assets, adding: “I think as soon as the market starts to understand these things, there is room for everyone.”

The CEO of the software firm did not suggest that the company would take any steps to buy Ethereum or any other crypto asset in the near future.

related: MicroStrategy stock slides after announcing new $400M loan increase to buy bitcoin

In a filing with the US Securities and Exchange Commission on Monday, Microstrategy said it would begin offering securities “on the market” that would allow it to sell up to $1 billion of its stock over time.

On June 9, the firm announced that it has Completed its $500 million offer of Secure Notes, and said it plans to use the proceeds to buy more bitcoin.

Sailor outlined his thinking in a survey of his 1.2 million Twitter followers, asking them whether he thinks the BTC price will rise by more than 6.125% over the next seven years (which is the period in which bond buyers will return to the microstrategy). to pay). Ninety-nine percent of the 105,000 respondents voted yes at the time of writing.

bitcoin treasury The report says that MicroStrategy currently holds 92,079 BTC, which is worth $3.68 billion at current prices.

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