MicroStrategy CEO: Ethereum Can Destroy Banking Institutions

According to Michael Saylor, the largest altcoin by capitalization could “dematerialize the JPMorgan building”

MicroStrategy CEO Michael Sailor, in an interview with CNBC, called Ethereum a “digital application” capable of “dematerializing the JPMorgan building, banking institutions and all exchanges.”

MicroStrategy keeps backing up the truck on bitcoin, even issuing the world’s first “bitcoin bond.” @MicroStrategy CEO @michael_saylor breaks down his strategy. $MSTR pic.twitter.com/ftLsqPEtPe

— CNBC’s Fast Money (@CNBCFastMoney) June 15, 2021

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Ethereum will take its place in the cryptocurrency industry, he said. The businessman also believes that stablecoins and national digital currencies (CBDC) occupy a separate place in the ecosystem of digital assets. According to Sailor, these classes of cryptoassets are almost identical.

MicroStrategy remains the largest publicly traded Bitcoin holder. She owns 92 thousand digital coins with a total value of about $ 3.6 billion. The average purchase price of a cryptocurrency is $ 24.4 thousand.

On June 15, MicroStrategy announced to the US Securities and Exchange Commission (SEC) that it could sell up to $ 1 billion of its own shares for additional investment in Bitcoin. The announcement comes after the company completed a $ 500 million bond offering, which will also be invested in cryptocurrency.