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Renowned internet personality and successful trader, Peter Brandt, recently made a series of significant statements that caught the attention of many. Brandt expressed his agreement with MicroStrategy founder and Chairman, Michael Saylor, on the ongoing battle between Bitcoin and other cryptocurrencies.
Bitcoin Gains Support
In a humorous manner, Brandt asked his followers whether they had invested their futures in Ethereum (ETH), Solana (SOL), and meme coins. He also highlighted a previous video in which Michael Saylor emphasized Bitcoin’s dominance.
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During the MicroStrategy World 2024 conference, Saylor proclaimed Bitcoin as the king of the industry. He described it as the sole asset that has gained complete corporate acceptance and stands alone in its success.
Saylor, who is a strong advocate for Bitcoin, did not hold back in expressing his thoughts on Ethereum. He specifically mentioned the cryptocurrency’s use of the Proof-of-Stake (PoS) consensus mechanism after the Merge.
Michael Saylor, Ethereum, and Other Altcoins
Recently, Gary Gensler, the Chairman of the United States Securities and Exchange Commission (SEC), echoed Saylor’s sentiments regarding Bitcoin. Gensler classified Bitcoin’s biggest supporter as a security rather than a commodity.
As a result, Gensler stated that it is unlikely for the SEC to approve the spot Ethereum ETF applications submitted by top 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 further expanded his statement to include other prominent altcoins in the market, such as Binance Coin (BNB), Solana (SOL), XRP, and Cardano (ADA).
Disclaimer:
The information provided in this article should not be considered as investment advice. Investors should be aware of the high volatility and risks associated with cryptocurrencies and should conduct their own research.
