Microstrategy CEO Says Bitcoin Is Not The Only Coin, Other Cryptocurrencies Also Have A Purpose


One of the most ardent proponents of digital currencies, Michael Saylor has said that he sees that the future beholds greater success for all cryptocurrencies and not just Bitcoins. Michael Saylor is CEO of Microstrategy and he and his firm are also one of the biggest investors in Bitcoins. 

In an interview with CNBC, said that Bitcoin is not the only currency and other currencies also have a purpose. He pointed out that while the other currencies have a range of utilities and are distinct from the top token, for the people and general users it will take time to understand these distinctions.

He explained by comparing and pointing out the difference between Bitcoin and Ethereum. Saylor said that while Bitcoin is a “store of value” and a digital property, Etheeum has extended functions. It allows for decentralized finance and is not just a store of value like Bitcoin.

“You’re going to want to build your buildings on a solid footing of granite, so bitcoin is made to last forever — high integrity, very durable. Ethereum is trying to dematerialize exchanges and the finance establishment,” Saylor said. “I think that as the market starts to understand these things, there’s a place for everybody.”

Microstrategy has invested billions of dollars in Bitcoins.

George Kim
George Kim
With over three years of experience working as a crypto-journalist, George reports mostly on price movements and all major events that influence the cryptocurrency market. While George is all about discussing the trends and future trajectories of coins of all shapes and sizes, he will never let you know where he buries his funds.

Leave A Reply

Please enter your comment!
Please enter your name here

Share post:




More like this

Ancient Bitcoin Whale Stuns Major Exchange with $535 Million BTC Transfer

In an unexpected turn of events, a long-dormant bitcoin...

Cardano (ADA) Headed for Reversal? Analyst Eyes $0.50 as Turning Point

Cardano (ADA), the smart contracts platform known for its...

Japan’s Metaplanet Stock Jumps 10% After Disclosing Additional BTC Purchase

Tokyo-listed investment firm Metaplanet Inc. saw its shares rise...

FTC Warns of Crypto Romance Scams in the US

The US Federal Trade Commission (FTC) has issued a...