U.Today – Founder and CEO of MicroStrategy giant Michael Saylor addressed the crypto community to share that he is celebrating his personal anniversary this week.
The Bitcoin evangelist tweeted that four years ago, in 2020, he purchased his first stash of the world's leading cryptocurrency.
Additionally, August of that year is known for the first purchase of Bitcoin by business intelligence giant MicroStrategy. It was made with the company's leftover cash and then the BTC was included on its balance sheet. Since then, the company has been regularly and frequently reporting on its Bitcoin purchases, “stacking Sats,” as Bitcoiners say. A sat refers to the smallest unofficial unit of Bitcoin, the Satoshi, named after its enigmatic creator, Satoshi Nakamoto.
One Bitcoin comprises 100 million Satoshis. In the first quarter of 2024, Michael Saylor's company holds 214,400 BTC worth $7,538 million.
Saylor comments on ETF approval
As U.Today reported, last week, Saylor appeared on the “What Bitcoin did” podcast. There, he surprised the Bitcoin community by saying something that made it seem like he had gotten a little used to Ethereum.
The BTC evangelist stated that the recent approval of Ethereum spot ETFs granted by the US Securities and Exchange Commission (SEC) could actually be beneficial for Bitcoin as this will more strongly consolidate the cryptocurrency industry. crypto in the eyes of Wall Street and will cause additional inflows into BTC. itself. It will help accelerate institutional adoption of Bitcoin and faster purchases of Bitcoin exchange-traded funds, which the SEC allowed earlier this year, in mid-January.
However, not all Bitcoin maximalists share his position on the matter. Recently, Jan3 CEO Samson Mow tweeted that “scoins don't help Bitcoin” and BTC doesn't need them, hinting at Saylor's statement, which he may have found debatable.
Mow tweeted that there is no demand for “securitized ETH” and that the ETF's spot approval does not change his overall bearish outlook on the second-largest cryptocurrency, Ethereum.
Before the approval of Ethereum ETFs occurred last week, Mow tweeted that this was the last chance to sell ETH above 0.05 BTC, urging the crypto community to dump their Ethereum and add more Bitcoin to their blockchain wallets.
This article was originally published on U.Today.
