Renowned internet personality and trader, Peter Brandt, recently made significant remarks regarding the ongoing rivalry between Bitcoin and other cryptocurrencies. He expressed his agreement with MicroStrategy founder and Chairman, Michael Saylor, on the topic of dominance.
Bitcoin Gains Support
Brandt amusingly questioned his followers whether they had wagered their futures on Ethereum (ETH), Solana (SOL), and meme coins. He also highlighted a previous video where Saylor advocated for Bitcoin’s supremacy.
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In a video from the MicroStrategy World 2024 conference, Saylor proclaimed Bitcoin as the king of the industry. He emphasized that Bitcoin is the only asset that has gained full corporate acceptance and stands alone in this regard.
Saylor, the CEO of MicroStrategy, also expressed his views on Ethereum, which utilizes the Proof-of-Stake (PoS) consensus mechanism after the Merge. He described BTC as the “only universal” cryptocurrency for corporate-level investments.
Michael Saylor, Ethereum, and Other Altcoins
Recently, Gary Gensler, the Chairman of the United States Securities and Exchange Commission (SEC), echoed Saylor’s statements regarding Bitcoin’s status. Gensler stated that Bitcoin’s biggest supporter is not a commodity but a security, similar to Saylor’s view.
Consequently, Gensler mentioned that it is unlikely for the SEC to approve spot Ethereum ETF applications submitted by leading investment fund management companies in the US.
The SEC is expected to make a decision soon, with the deadline for the VanEck spot Ethereum ETF application set for May 23.
Saylor’s remarks also encompassed other prominent altcoins in the market, such as Binance Coin (BNB), Solana (SOL), XRP, and Cardano (ADA).
Disclaimer:
The information provided in this article is not intended as investment advice. Investors should be aware of the high volatility and associated risks of cryptocurrencies and conduct their own research.
