Internet character and monetary dealer Peter Brandt seems to share the identical stance as MicroStrategy founder and Chairman Michael Saylor on Bitcoin’s superiority over different cryptocurrencies.
Bitcoin As Dominant Coin Gains More Support
Brandt teasingly requested his followers in the event that they had been staking their future on crypto belongings like Ethereum (ETH), Solana (SOL) and shitcoins.
“This is a one horse race,” he added. He subtly drew consideration to a earlier video of Saylor speaking about Bitcoin’s superiority.
In this video of the MicroStrategy World 2024 convention, Saylor asserted that Bitcoin is king. He additional touted the flagship cryptocurrency as one which stands alone in reaching full institutional acceptance.
Are you staking your future on ETH, SOL, memes, 8hitcoins?
This is a one horse race.
This could possibly be one of the best hour you’ll ever spend in your life itemizing to Michael Saylor telling you the best way will probably be.
POW will win the race. No POW like $BTC @saylor https://t.co/j4LcgjcMdc— Peter Brandt (@PeterLBrandt) May 4, 2024
Furthermore, the MicroStrategy CEO described BTC because the “singular universal” crypto asset appropriate for institutional-grade investments, stating that “there won’t be another one.”
Hearing an announcement like this from the Bitcoin Marxist was not solely sudden or shocking. However, Saylor used this chance to take a jab at Ethereum which makes use of a Proof-of-Stake (PoS) consensus mechanism because of the Merge.
Michael Saylor Labels Ethereum Security
Just just like the United States Securities and Exchange Commission (SEC) Chair Gary Gensler has been saying, Saylor referred to as the world’s largest altcoin a security and not a commodity. Consequently, he acknowledged that there was no method the U.S. SEC was going to provide its approval to the spot Ethereum ETF functions that had been made by prime funding asset administration companies.
Noteworthy, the stipulated deadline for the Commission to determine on VanEck spot Ethereum ETF submitting is May twenty third, solely about 19 days away. Other cryptocurrencies down the hierarchy, in keeping with Saylor’s hypothesis, would ultimately be labeled as unregistered securities as effectively.
This, he claims consists of Binance Coin (BNB), Solana (SOL), XRP, and Cardano (ADA).
“None of them will be included in a spot ETF, none of them will ever gain acceptance on Wall Street…” Saylor emphasised.
It seems that the PoS nature of Ethereum is the bone of competition for the SEC. This was explicitly mirrored in Brandt’s submit the place he claimed that Proof-of-Work (PoW), which Bitcoin makes use of, will win the “race.”
Despite these controversies, Vitalik Buterin, Ethereum co-founder, believes that the transition of the protocol from PoW to PoS was one of the best choice for ETH.
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