MicroStrategy CEO Michael Saylor appears to be warming up to Ethereum
MicroStrategy CEO Michael Saylor made some rare comments about Ethereum, the second-largest cryptocurrency, during his June 15 appearance on CNBC’s Fast Money.
The Bitcoin bull claims that Ethereum is trying to dematerialize exchanges and the finance establishment:
I think, as the market starts to understand these things, there’s a place for everybody.
Saylor clearly remains a Bitcoin maximalist, saying that the flagship cryptocurrency is “the highest, most dominant digital property network.”
MicroStrategy currently owns 91,326 Bitcoins, and plans to buy more after recently raising $500 million worth of debt. On top of that, the company announced a $1 billion stock offering earlier this week.
“Cash was trash”
In his latest interview, Saylor says that his company’s investors claimed that cash was a liability on MicroStrategy’s balance sheet.
The Bitcoin bet has increased the power of the brand “by a factor of 100,” according to the billionaire.
Apart from making a killing with its cryptocurrency investment, MicroStrategy’s software business also had its best quarter in history:
The core business is up 10 percent. The Bitcoin business is driving shareholder returns. I think the employees are happy, the shareholders are happy.