ETH
Ethereum guru and advocate Anthony Sassano made a case for someone to lead a Bitcoin-like charge on behalf of the Ethereum community, similar to Microstrategy’s Michael Saylor. He took to X (formerly Twitter) to question whether Ethereum would have been as successful as Bitcoin if a Saylor-like figure were promoting the token.
The scenario that Anthony Sassano raised about Saylor’s role in the push for Bitcoin. Michael Saylor and his company Microstrategy became the face of Bitcoin, strategically buying millions and millions worth of digital assets.
The company’s initiative established Bitcoin as a source of value and a better hedge against inflation, reducing its appearance as a speculative asset. While Microstrategy and Saylor were more consistent than most, other entities were also integral to promoting the asset.
Ethereum defender makes his case
The ETH defender’s question caused quite a stir on X. Many users dropped their opinions, discussing at length why the ETH space needs its own high-profile champion. One user pointed out that it would be incredible, noting that the person’s influence would really help Ethereum.
I still think there's a pretty huge opportunity for someone to become a Sailor-like character on Ethereum.
Buy ETH relentlessly regardless of price and then shill ETH (and Ethereum!) endlessly for the mainstream audience.
I wish I had the money to do this myself 😅— sassal.eth/acc 🦇🔊 (@sassal0x) December 22, 2024
Another user claimed that there could be a decentralized, focused effort, noting that the move could see input from influencers, whales, and other users in the space. One mentioned that a centralized number could help boost the price of ETH, using regulated mechanisms. The user suggested a model that included bonding mechanisms, token boosts, and borrowing, noting that it could help accelerate the price of the token. One user spoke about the integration of yield, noting that it could make the strategy very effective.
Meanwhile, some users offered examples of figures they felt could bridge the gap. One user suggested Samir Tabar, CEO of Bit Digital, highlighting that his company mines Bitcoin to mine Ethereum, a move that helped promote ETH as a proxy.
However, the initiative has not been well received by others, with most highlighting the risks of centralized influence. One user noted that Saylor’s current and growing influence could be detrimental to the asset, noting that he owns about 2% of the total Bitcoin supply. The user pointed out that the development could deter others from adopting the asset, suggesting that a centralized person on Ethereum could face the same criticism.
Others also talked about how difficult it would be to create a company that would maintain the same appetite for Ethereum as Microstrategy Bitcoin. One user said that the 75 million Ethereum tokens during the presale created a unique dynamic that would discourage the entity from taking a central role. Another user said there could be conflict of interest issues, noting that major holders or validators may not want to become a central figure to protect their position within the network.
Additionally, other users talked about Ethereum and its unique characteristics. One user talked about the state of the network without a “hero” like Saylor, suggesting that someone like Bankless could fill that role. Meanwhile, another user said that the decentralized nature of the network makes it difficult for it to rely on a central figure like Saylor for advocacy. The conversation also turned to the relationship between Bitcoin and Ethereum, with one user highlighting Bitcoin’s 21 million supply making it suitable for widespread holding.
