Peter Brandt Supports Saylor’s Controversial Statement
Internet personality and financial trader Peter Brandt appears to share the same stance as MicroStrategy founder and Chairman Michael Saylor on Bitcoin’s superiority over other cryptocurrencies.
Bitcoin Gains More Support as Dominant Coin
Brandt sarcastically asked his followers if they would risk their future on crypto assets like Ethereum (ETH), solana (SOL), and Shitcoins.
“This is a one-horse race,” he added. He subtly pointed out a previous video in which Saylor talked about the superiority of Bitcoin.
In this video from the MicroStrategy World 2024 conference, Saylor claimed that Bitcoin is king. It also touted its flagship cryptocurrency as a cryptocurrency that stands alone in achieving full institutional adoption.
Additionally, MicroStrategy CEO described BTC as the “only universal” crypto asset suitable for institutional-level investments, stating that “there will never be another one.”
It wasn’t entirely unexpected or surprising to hear such a statement from the Bitcoin Marxist. However, Saylor used this opportunity to deal a blow to Ethereum, which uses a Proof of Stake (PoS) consensus mechanism as a result of the Merger.
Michael Saylor Tagged Ethereum Security
just like United States Securities and Exchange Commission (SEC) Chairman Gary Gensler said, Saylor described the world’s largest altcoin as a security, not a commodity. As a result, it is not possible for the US SEC to approve spot Ethereum ETF applications made by leading investment asset management firms.
Of note, the anticipated deadline for the Commission to decide on the VanEck spot Ethereum ETF application is May 23, only 19 days away. Saylor speculates that other cryptocurrencies further down the hierarchy will eventually be classified as unregistered securities.
He claims this includes Binance Coin (BNB), Solana (SOL), XRP and Cardano (ADA).
“None of them will be included in the spot ETF, none of them will be accepted on Wall Street…” Saylor emphasized.
It appears that the PoS nature of Ethereum is a matter of contention for the SEC. This was clearly reflected in Brandt’s post, where he claimed that Proof-of-Work (PoW), which Bitcoin uses, will win the “race”.
Despite these controversies, Ethereum co-founder Vitalik Buterin believes that the protocol’s transition from PoW to PoS is the best decision for ETH.
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Benjamin Godfrey is a blockchain enthusiast and journalist who enjoys writing about real-life applications of blockchain technology and innovations to ensure mainstream acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain-based media and sites. Benjamin Godfrey is a lover of sports and agriculture. follow him excitementLinkedIn
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