Bitcoin Maximalist Michael Saylor Predicts XRP, ETH, BNB, and ADA to Never Have ETFs

MicroStrategy co-founder Michael Saylor is a well-known figure in the cryptocurrency community, including Ethereum (ETH), XRP, BNB at the recent Bitcoin for Corporations 2024 event, Cardano (ADA), and Solana (SOL).

He delivered sharp speeches on May 1st and 2nd, announcing that these top cryptocurrencies will be declared securities by the SEC, resulting in a tough road to acceptance of cryptocurrencies by large-scale investors. I predicted it would be.

Saylor’s positive attitude towards altcoins

Saylor predicts that Ethereum, the second largest cryptocurrency, will likely be subject to the SEC’s label as an unregistered security this summer, along with other important tokens such as XRP, BNB, ADA, and SOL. did. He disagreed, saying large investors in the stock market and the money market may never use them as collateral.

His exact words, “None of it will be wrapped in a spot ETF, none of it will be accepted by Wall Street, and none of it will be accepted as a crypto asset by mainstream institutional investors,” are from the crypto community. It did not disappoint the members’ expectations. yell at him.

On stage, Saylor firmly believed that Bitcoin was the only virtual currency that could be on institutional investors’ investment lists, and that there was no room for any other virtual currency to compete for that spot. showed love for

According to Bitcoin Maximalists, Bitcoin is a single, unified cryptocurrency that is widely accepted in the institutional investment world.

These deliberate statements by Saylor bothered many people in the cryptocurrency community, which in turn caused a massive backlash.

XRP lawyer Bill Morgan’s response was another rebuttal to the fact that Saylor interpreted the contrast between the company Ripple and XRP. Regarding X, Morgan continued, “He was so ignorant as to confuse Ripple with the token XRP, and that XRP was not considered a security (by anyone) even though a judge had already determined that XRP itself was not a security.” “If they think they can, why would they trust anything?” he added. Is he talking about Bitcoin? He is more hostile to the broader cryptocurrency ecosystem than Gary Gensler. ”

Additionally, one of the critics, Cardano inventor Charles Hoskinson, expressed his dissatisfaction with X, with Hoskinson highlighting repeated criticisms from Bitcoin maximalists, stating: Altcoiners are very toxic. ” Bitcoin Maxi: “Literally anything other than Bitcoin is illegal and a scam.”

Also check: Bitcoin recovers well, but bearish clouds confront BTC price rise!

Related Article


Leave a Comment