Michael Saylor Admits to Misjudging Ethereum, Predicts Bright Future for Crypto

MicroStrategy's Michael Saylor has long been outspoken not just about his Bitcoin (BTC) advocacy, but about his skepticism toward Ethereum (ETH) as well.

Previously, Saylor had referred to Ethereum as an unregistered security and voiced doubts about the approval of an Ethereum-based ETF. However, during a recent conversation on the Altcoin Daily YouTube channel, Saylor acknowledged that he had been wrong in his earlier assessments of Ethereum.

Saylor revealed that his perspective began to shift in the second quarter of 2024, particularly after former President Donald Trump expressed support for the crypto community. This change in sentiment led Saylor to reconsider Ethereum’s potential and the broader cryptocurrency landscape.

Looking ahead, Saylor proposed two possible scenarios for the future of Bitcoin, Ethereum, and the crypto industry. In the first, he suggested that Bitcoin might emerge as the sole digital asset classified as a commodity, leaving Ethereum and other cryptocurrencies in a regulatory gray zone. However, he leaned more toward the second scenario, where the so-called “war on crypto” would subside, providing clarity and a more defined regulatory framework for the entire sector.

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In this scenario, Saylor believes that both Bitcoin and Ethereum are on the verge of entering a period of significant growth. Bitcoin, in particular, is poised for a major rise, while Ethereum, along with other cryptocurrencies, could experience a “crypto renaissance” driven by newfound regulatory certainty.

Kosta Gushterov