Michael Saylor is the CEO of Microstrategy and acts as the big bull in the buying and selling of Bitcoin (BTC). However, looking at the current global, economic, and interest rates situation, Saylor’s comment gives hope to Ethereum (ETH) investors. At the time, when Federal Reserve increased the interest rates by 75 basis points, from 1.5% to 1.75%, which was the largest hike in nearly three decades. Moreover, Federal Reserve stated that the interest rate would keep increasing to combat inflation.
Bitcoin (BTC) and Ethereum (ETH) are the two largest cryptocurrencies worldwide, and in recent months the prices of both decreased drastically. This has swapped 80% market value of both cryptocurrencies.
At the time of writing this article, Ethereum is trading at $1066.33. However, even after the 80% drop in the market value and the bearish trend reflected in the crypto and stock market, Michael Saylor believes that Ethereum is the currency of the future with robust potential to become the world’s largest cryptocurrency.
In an interview with Altcoin Daily, Saylor quotes;
“ I think Ethereum’s a security. I think it’s pretty obvious it’s security. It was issued via an ICO, and there’s a management team, there were pre-mine, continual hard forks [Ethereum Classic and others], and a difficulty bomb keeps getting pushed back.
What you want is a decentralized protocol that can’ change. The problem with Ethereum is they keep changing it from a securities law point of view. Securities have a place in the world, but they must sell them to the public with full and fair disclosure.”
Furthermore, the investors are quite speculative about the buying of Ethereum tokens (ETH). While, if ETH touches the resistance goal of $1500, investors and crypto enthusiasts will embark on a bullish trend or rally. Based on the comments given by Saylor, we can say that Ethereum can attract more investors and straighten the overall market conditions.
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