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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.

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