U.Today – Founder and Executive Chairman of gaming giant MicroStrategy, Michael Saylor, reached out to the cryptocurrency community to share that he is celebrating his personal anniversary this week.
The Bitcoin evangelist wrote on Twitter that four years ago, in 2020, he bought his first stock of the world’s leading cryptocurrency.
August this year is also known for the first-ever purchase of Bitcoins by the business intelligence giant MicroStrategy. This was done using the company’s free cash, and then BTC was added to its balance sheet. Since then, the company has been reporting its Bitcoin purchases regularly and frequently – “stacking Sats,” as Bitcoin insiders say. Sat refers to Bitcoin’s unofficial smallest unit – Satoshi – named after its enigmatic creator, Satoshi Nakamoto.
One Bitcoin contains 100 million Satoshis. As of Q1 2024, Michael Saylor’s company holds 214,400 BTC worth $7.538 billion.
Saylor comments on ETF approval
Last week, Saylor appeared on the “What Bitcoin Did” podcast, U.Today reported. There, he stunned the Bitcoin community by saying something that made it look like he had warmed up to Ethereum a bit.
The BTC evangelist stated that the recent approval of spot Ethereum ETFs by the US Securities and Exchange Commission (SEC) could actually be beneficial for Bitcoin as it will cement the cryptocurrency industry more firmly in the eyes of Wall Street and provoke additional inflows into BTC itself. It will facilitate accelerate institutional adoption of Bitcoin and faster purchases of spot Bitcoin exchange-traded funds, which the SEC allowed earlier this year – in mid-January.
However, not all Bitcoin maximalists share his stance on the matter. Recently, Jan3 CEO Samson Mow tweeted that “s-coins aren’t helping Bitcoin” and BTC doesn’t need them, referencing Saylor’s statement that he may have found moot.
Mow wrote on Twitter that there is no demand for “securitized ETH” and that the approval of a spot ETF does not change his overall bearish view on the second-largest cryptocurrency, Ethereum.
Before the approval of Ethereum ETFs happened last week, Mow tweeted that this was the last chance to sell ETH above 0.05 BTC, calling on the crypto community to get rid of Ethereum and add more Bitcoin to their blockchain wallets.
