Cardano

Bitcoin

when

The post <a href="https://coinpedia.org/news/bitcoin-maximalist-michael-saylor-predicts-xrp-eth-bnb-and-ada-to-never-have-etfs/">Bitcoin Maximalist Michael Saylor Predicts XRP, ETH, BNB, and ADA to Never Have ETFs</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
<a href="https://coinpedia.org/news/michael-saylor-took-a-jab-at-ethereum-labelling-it-a-security-rejects-spot-etf/">MicroStrategy</a> co-founder Michael Saylor, a notable figure in the crypto world, has stirred controversy with his recent comments at the Bitcoin for Corporations 2024 event. Saylor’s predictions about the regulatory fate of major altcoins like Ethereum (ETH), XRP, BNB, Cardano (ADA), and Solana (SOL) have left many in the community angry. 
What did he say that was so controversial? Dive right in. 
<h2 class="wp-block-heading" id="h-saylor-s-aggressive-stance">Saylor’s Aggressive Stance </h2> 
During his speech on the 1st and 2nd of May, Saylor made some bold claims. He suggested that top cryptocurrencies such as XRP, BNB, ADA, and SOL could face scrutiny from regulators, particularly the SEC. Saylor even went as far as to suggest that Ethereum and other big tokens might be labeled as securities, making it difficult for them to gain acceptance from large investors. 
Saylor’s assertion that these altcoins may never gain acceptance from mainstream institutional investors or be used as collateral in traditional financial markets has sparked outrage within the crypto community. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 “None of them will ever be wrapped by a spot ETF, none of them will be accepted by Wall Street, none of them will be accepted by mainstream institutional investors as crypto assets,” 
</blockquote> 
<h2 class="wp-block-heading" id="h-bitcoin-remains-dominant">Bitcoin Remains Dominant</h2> 
Throughout his talk, Saylor expressed strong belief in Bitcoin as the top choice for institutional investments. He argued that Bitcoin’s widespread acceptance makes it the only viable option for institutional portfolios, dismissing the idea of any other cryptocurrency competing for that position. 
<h2 class="wp-block-heading" id="h-community-reactions">Community Reactions</h2> 
Saylor’s remarks drew swift pushback. 
XRP lawyer <a href="https://coinpedia.org/news/bill-morgan-slams-secs-2-billion-ripple-penalty-as-legal-battle-with-xrp-intensifies/">Bill Morgan</a> challenged Saylor’s views, particularly regarding XRP’s classification as a security. Morgan defended XRP, citing a previous legal ruling that deemed XRP itself not a security. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 “If he is so ignorant that he is confusing Ripple the company with XRP the token and thinks that XRP will be deemed a security (by whomever) when a judge already found XRP itself is not a security why trust what he says about Bitcoin? He is more hostile to the wider crypto ecosystem than Gary Gensler.” <cite>Bill Morgan </cite>
</blockquote> 
Charles Hoskinson, the creator of Cardano, also criticized Saylor’s comments. He highlighted the recurring criticism from Bitcoin maximalists, who often dismiss alternative cryptocurrencies as illegitimate or scams. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 “‘Bitcoiners: ‘Why is Charles attacking Bitcoin? Altcoiners are so toxic.’ Bitcoin Maxi’s: ‘Literally everything but Bitcoin is illegal and a scam.’” 
</blockquote> 
Also Check Out: <a href="https://coinpedia.org/price-analysis/bitcoin-recovers-finely-yet-the-bearish-clouds-haunt-the-btc-price-rally/">Bitcoin Recovers Finely, Yet the Bearish Clouds Haunt the BTC Price Rally!</a> 
Is Bitcoin the only crypto with a future for institutional investors? Let’s discuss!

Bitcoin Maximalist Michael Saylor Predicts XRP, ETH, BNB, and ADA to Never Have ETFs

目次

CoinPedia News

2024年5月4日公開の他の記事

BTC-e founder pleads guilty to laundering stolen Bitcoin

Shiba Inu Prediction: Is SHIB Rebound Just a Dead Cat Bounce

PEPE Coin Defies Market Downturn

Hong Kong Asset Management Firm Acquires $38M in BlackRock’s Crypto Coin IBIT

Vodafone Integrates Cryptocurrency Wallets with SIM Cards

Synthetix (SNX) Founder Kain Warwick’s Essential Fundraising Strategies for Emerging Crypto Teams

ニュースレターを購読して暗号資産の最新情報を毎日入手！