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Michael Saylor celebrates a major Bitcoin anniversary: details from U.Today
U.Today – MicroStrategy giant founder and executive chairman Michael Saylor took to the crypto community to share that he is celebrating his personal anniversary this week.
The Bitcoin evangelist tweeted that four years ago, in 2020, he purchased his first stash of the world’s leading cryptocurrency.
Additionally, August of that year is known for the first Bitcoin purchase by business intelligence giant MicroStrategy. It was made with the company’s spare cash and then the BTC was placed on its balance sheet. Since then, the company has regularly and frequently reported its Bitcoin purchases – “stacking Sats” as Bitcoiners say. A sat refers to the smallest unofficial unit of Bitcoin – the Satoshi – named after its enigmatic creator, Satoshi Nakamoto.
One Bitcoin comprises 100 million Satoshis. As of the first quarter of 2024, Michael Saylor’s company holds 214,400 BTC worth $7.538 billion.
Saylor comments on ETF approval
As reported by U.Today, Saylor appeared on the “What Bitcoin did” podcast last week. There, he stunned the Bitcoin community by saying something that made it sound like he had grown a little fond of Ethereum.
The BTC evangelist said that the recent approval of Ethereum spot ETFs granted by the US Securities and Exchange Commission (SEC) could actually be beneficial for Bitcoin as this will more strongly establish the cryptocurrency industry in the eyes of Wall Street and will cause further inflows into BTC yes. It will help accelerate institutional adoption of Bitcoin and faster purchases of spot Bitcoin exchange-traded funds, which the SEC allowed earlier this year, in mid-January.
However, not all Bitcoin maximalists share his position on this matter. Recently, Jan3 CEO Samson Mow tweeted that “s-coins don’t help Bitcoin” and BTC doesn’t need them, alluding to Saylor’s statement, which he may have found questionable.
Mow tweeted that there is no demand for “securitized ETH” and that the spot ETF approval does not change his overall bearish view on the second largest cryptocurrency, Ethereum.
Before the approval of Ethereum ETFs last week, Mow tweeted that it was the last chance to sell ETH above 0.05 BTC, urging the crypto community to dispose of their Ethereum and add more Bitcoin to their blockchain wallets.