MicroStrategy CEO Michael Saylor believes future is bright for other cryptocurrencies

Despite being a vocal bitcoin proponent and raising the profile of his enterprise by investing heavily on bitcoin, MicroStrategy Chief Executive Officer Michael Saylor believes the future is bright for a range of other cryptocurrencies.

Speaking on CNBC’s “Fast Money” on Tuesday, Saylor said different digital currencies serve different purposes and newcomers to the asset space might take some time to recognize those differences.

In elaborating his statement, the CEO said he sees bitcoin, the leading cryptocurrency by market capitalization, as digital property and a store of value whereas ethereum and the Ethereum blockchain aim to disrupt traditional finance systems.

A place for everybody

“You’re going to want to build your buildings on a solid footing of granite, so bitcoin is made to last forever – high integrity, very durable,” Saylor said, obviously expressing his optimistic view about the crypto alpha dog.

Meanwhile, the MicroStrategy top honcho said he thinks Ethereum is attempting to de-materialize exchanges and the finance establishment.

He said if the market is able to understand these things, there is definitely a place for everybody. Cryptocurrencies other than bitcoin can also thrive and have a promising future.

MicroStrategy strategizes to gain more bitcoin

Just this Monday, Saylor’s company announced that it has successfully completed a debt offering, the proceeds of which will be used to add more bitcoin into their balance sheets.

MicroStrategy is also planning to launch a program that will enable the sale of $1 billion worth of additional stocks over time.

Saylor said the funds from the stock offering could be used to purchase bitcoin, retire debt or for general corporate purchases. While believing that there is potential to other cryptocurrencies, Saylor still remains a loyal supporter and investor of bitcoin.

 

Image courtesy of Cointelegraph News/YouTube

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