Prominent internet personality and renowned trader Peter Brandt recently made noteworthy remarks that shed light on the ongoing battle between Bitcoin and other cryptocurrencies. Brandt expressed his agreement with MicroStrategy founder and Chairman Michael Saylor regarding dominance in the crypto market.
Bitcoin Receives Support
Brandt posed a humorous question to his followers, inquiring whether they had invested their futures in Ethereum (ETH), Solana (SOL), and meme coins. He also drew attention to a previous video in which Michael Saylor advocated for Bitcoin’s supremacy.
Saylor’s Video Highlights Bitcoin’s Dominance
During the MicroStrategy World 2024 conference, Saylor declared Bitcoin as the reigning king of the crypto sector. He emphasized that Bitcoin is the only asset that has gained complete acceptance in the corporate world. Saylor further described Bitcoin as the “only universal” cryptocurrency suitable for corporate-level investments.
Saylor’s Thoughts on Ethereum and Other Altcoins
Interestingly, Saylor did not shy away from commenting on Ethereum, which utilizes the Proof-of-Stake (PoS) consensus mechanism after the Merge. In a recent campaign focusing on ETH, Gary Gensler, the Chairman of the United States Securities and Exchange Commission (SEC), echoed Saylor’s sentiments, stating that Bitcoin’s most ardent supporter is not a commodity but a security. Consequently, Gensler expressed doubts about the SEC approving spot Ethereum ETF applications submitted by leading investment fund management companies in the US.
The SEC’s Decision and the Deadline for Ethereum ETF Application
The SEC is expected to make a decision soon, with the deadline for the VanEck spot Ethereum ETF application set for May 23. It is crucial to keep in mind that Gensler’s remarks may influence the outcome of the application.
Saylor’s Statement on Major Altcoins
Saylor expanded his statement to include other prominent altcoins in the market, such as Binance Coin (BNB), Solana (SOL), XRP, and Cardano (ADA). He highlighted their significance and impact in the evolving crypto landscape.
Disclaimer:
Readers should note that the information provided in this article is not intended as investment advice. It is crucial for investors to recognize the high volatility and associated risks of cryptocurrencies and conduct thorough research before making any investment decisions.
