News - This is what Michael Saylor thinks of the Ethereum ETF

By Luc Vesters

This is what Michael Saylor thinks of the Ethereum ETF

Bitcoin (BTC)
Ethereum (ETH)

On May 23, the SEC approved applications for an Ethereum ETF. MicroStrategy founder Michael Saylor sees this as positive news for Bitcoin and the crypto industry as a whole.

The adoption shows the growing political influence of the crypto industry. As Saylor explains in the Bitcoin podcast "What Bitcoin Did," this encourages institutional adoption as cryptocurrencies are increasingly seen as a legitimate asset class. However, he emphasizes that Bitcoin, as the "market leader," would receive most of the investment.

No wonder: for the MicroStrategy founder, Bitcoin is ultimately "the safe harbor," as he announced back in 2021. Since then, Saylor's company has bought billions of BTC, currently totaling 214,000 BTC.

With the strong growth in the price of Bitcoin since early 2023, the share price of MicroStrategy (MSTR) has also skyrocketed. Investors in the traditional financial market use MSTR as a kind of leverage on the price of Bitcoin. As a result, MSTR is now even part of the MSCI World Index.

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