#binance #BB

Michael Saylor: "The launch of spot ether-ETFs will create another line of defense for bitcoin"

The co-founder of US software company MicroStrategy, one of the largest public holders of bitcoin, said the approval of spot ether exchange-traded funds (ETFs) is a good thing for the first cryptocurrency.

Michael Saylor, on air on What Bitcoin Did, assured that the emergence of spot ETH-ETFs will lead to more investors recognizing cryptocurrencies as a legitimate asset class:

"Is it good for bitcoin? Yes, I think it's good for the first cryptocurrency. Spot ETH-ETFs will serve as another line of defense for bitcoin."

The head of MicroStrategy believes that investors will spread their capital among different cryptocurrencies, but bitcoin will still remain in the lead in terms of fund inflows.

Michael Saylor admitted his mistake in a previous forecast when he claimed that the probability of approval of applications for spot exchange-traded funds for ether in the United States is zero. Now the businessman is confident that the crypto industry has become even more influential than before.