Michael Saylor: Ethereum is a security

Michael Saylor: Ethereum is a security

Michael Saylor: Ethereum is a security

Ethereum should be classified as a security, since the asset was originally distributed to investors as part of an ICO. This was stated by the head of MicroStrategy Michael Saylor in an interview with Altcoin Daily.

“Ethereum is a security, I think this is quite obvious. […] The asset was released during the ICO, there is a management team, it was pre-mined. There are hard forks, hard forks on an ongoing basis, there is a complexity bomb that is being delayed,” he said. that the asset is a security.

In his opinion, for a cryptocurrency to be considered a commodity, it should not have an issuer or someone who would “make decisions”. He emphasized that such digital assets are based on “completely decentralized protocols.” The head of MicroStrategy cited bitcoin as an example.

“If you want to position a product as a commodity, you are trying to create something similar to gold in the digital space,” — he said.

Sailor also stated that the tokens of all Proof-of-Stake networks are securities. According to him, investing in these assets is “extremely risky” due to potential problems with regulators. He added that this is one of the key reasons why MicroStrategy only invests in bitcoin.

The company previously purchased an additional 480 BTC at an average price of around $20,817. The organization holds 129,699 BTC (~$2.76 billion at the rate at the time of writing) – she spent $ 3.98 billion on their purchase.

Recall that in June, Saylor said that MicroStrategy did not intend to sell cryptocurrency even under adverse market conditions.

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