#MicroStrategy President Michael Saylor considers the US SEC's approval of #Ethereum spot ETFs as a positive development and suggests that this could be more beneficial for Bitcoin. Saylor expressed this view during an episode of the “What Bitcoin Did” podcast with host Peter McCormack on May 25. He discussed the implications of the SEC's decision to approve eight Ethereum spot ETFs on May 23
Saylor, who previously had reservations about the possibility of Ethereum ETFs being approved by the SEC, has now changed his stance. He sees this development as a potential catalyst that could strengthen the entire crypto industry, including Bitcoin. In his own words: Additionally, MicroStrategy's founder explained that the approval of Ethereum spot ETFs acts as an additional layer of defense for Bitcoin. He expects this development to accelerate institutional adoption, as previously cautious investors may now view cryptocurrencies as a legitimate asset class
Saylor predicts that mainstream investors will allocate a portion of their portfolios to crypto, with Bitcoin taking up most of those allocations. He suggests that while investors allocate 5% or 10% of their portfolios to the crypto asset class, Bitcoin will make up 60% to 70% of this share
Saylor's previous stance was that Ethereum and other tokens such as #BNB #SolanaUSTD #XRP , and Cardano would not receive the same treatment as Bitcoin. Therefore, the crypto community is not unaware of Saylor's return. Comments from industry figures like Joe Carlasare and Ricky Bobbyy reflect surprise at Saylor's drastic 180-degree change, wondering whether he will start investing in ETH
Saylor's support of Ethereum ETFs is a significant sign of change in the crypto world. The belief that this move will accelerate institutional adoption and consolidate Bitcoin's dominance presents a promising picture for the future of cryptos. As the market evolves, Saylor's insights can be instrumental in shaping investor strategies and industry trends.
