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What's Next for Ethereum? MicroStrategy CEO: Any Cryptocurrency Will Have a Place

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MicroStrategy CEO Michael Saylor has been a prominent Bitcoin advocate since last year, but he seems not to be fixated on Bitcoin alone. In a recent interview, he uncommonly expressed his views on Ethereum, believing that different crypto assets will each have their place.

Following a major dip in the crypto market, MicroStrategy bought coins to support the market, organized the North American Bitcoin Mining Council, issued $500 million in bonds to buy more Bitcoin, and did not rule out selling $1 billion in stocks in the future, with some of the proceeds being invested in Bitcoin.

CEO Michael Saylor recently appeared on CNBC's Fast Money program, revealing his views on the current state and future development of the crypto industry.

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Why Keep Buying Bitcoin?

The host questioned why MicroStrategy, a software service provider, continues to buy Bitcoin. Is this really something investors are happy to see? Saylor responded, "The world is gradually facing the reality that Bitcoin is a digital asset built on an open-source monetary network and will eventually be adopted by billions of people."

He pointed out:

Investors of MicroStrategy also told us that cash is trash. We can do nothing and still turn the balance sheet around, transforming MicroStrategy into a company that can sell enterprise software while continuously borrowing to buy and hold Bitcoin. Our software sales reached a ten-year high last quarter, and Bitcoin also significantly increased shareholder profits. I think investors should be satisfied.

Would You HODL Ethereum?

Another host, Guy Adami, asked Saylor about his views on Ethereum and whether they might adopt a similar strategy for Ethereum in the future as they did with Bitcoin. Saylor replied:

Let's talk about the crypto universe. Bitcoin is undoubtedly the most dominant digital asset and the most valuable underlying network. Then there are assets entering the currency market such as stablecoins like Tether and CBDCs coming out one after another. Of course, there are also digital applications like Ethereum, which aims to digitize institutions like JPMorgan, banks, and exchanges.

He emphasized that as the market begins to understand these projects, crypto assets will all have a place in the future.

However, Saylor did not give a definitive answer on whether MicroStrategy would buy Ethereum or other crypto assets in the future.

As of now, MicroStrategy holds the most Bitcoin among publicly traded companies, with 92,079 bitcoins at an average price of around $24,450, resulting in an unrealized profit of around $1.5 billion from Bitcoin investments.

In June, MicroStrategy raised $488 million through debt issuance, and it can be expected that their holdings will eventually exceed the 100,000 Bitcoin mark, with their holdings accounting for over 0.5% of the current circulating supply.