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23.09.2020

Michael Saylor fixed on Bitcoin and Bitcoin alone

MicroStrategy CEO Michael Saylor has gone from Crypto Skeptic to Bitcoin Bull in just seven years, but his eyes are fixed on Bitcoin and Bitcoin alone.
MicroStrategy CEO Michael Saylor indicated in recent tweets that he sees a clear difference between Bitcoin and other altcoins and strongly supports BTC, which is evident from his company’s hedging strategy.
On Twitter From September. 20, Saylor noted the difference between cryptoasset networks (i.e. Bitcoin) and crypto-application networks (i.e. Ethereum). Saylor wrote:
“Looking at the network dominance of the crypto industry, I find it clearer to separate cryptoasset networks like Bitcoin from crypto app networks like Ethereum & stablecoins. Bitcoin dominance has surged from a low of 71.05% on December 20, 2017 to 93.57% today. ”
Saylor’s data has been a bit selective for his followers on twitter, however, as the bitcoin dominance data only measures the proof of work of cryptocurrencies that try to be money.
By other metrics, CoinMarketCap has Bitcoin dominance at an annual low of 56.67% as of September 13, but this data also takes into account stablecoins like Tether.
Saylor is leaning towards Bitcoin maximalism
MicroStrategy CEO Saylor seems to have completely changed his outlook on bitcoin since 2013, when he tweeted, “The days of bitcoin are numbered. It looks like it’s just a matter of time before it suffers the same fate as online gambling. ”
Saylor now claims that Bitcoin is the dominant safe haven asset and Pompliano said, “Bitcoin scales well as a store of value.”

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