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Michael Saylor spoke out regarding the approval of Ethereum-based crypto funds

Regulation: Michael Saylor spoke out regarding the approval of Ethereum-based crypto funds

Michael Saylor, co-founder of technology giant MicroStrategy, recently shared his thoughts on the U.S. Securities and Exchange Commission giving the green light to the Ethereum-ETF. Saylor believes that this approval could be a boon for bitcoin, while emphasizing the broader implications of the regulator's decision-making on digital assets.

According to Saylor, regulatory approval of any virtual asset means a significant step forward for the entire cryptocurrency sphere. According to the entrepreneur, such an advancement serves to strengthen the foundations of the crypto industry as a whole, contributing to a more robust ecosystem.

Expressing optimism, Sailor noted:

"Undoubtedly, this development bodes well for bitcoin. Moreover, it promises tangible benefits as our collective power in the industry grows politically."

The head of MicroStrategy emphasizes that ETFs tied to #Ethereum could provide additional protection for bitcoin, accelerating institutional adoption and attracting a new wave of investors to the sector, as Saylor points out.

While recognizing the inevitability of diversifying investment portfolios, Saylor notes that #bitcoin may lose some of its exclusivity. Nevertheless, he remains steadfast in his belief that the mainstream cryptocurrency will continue to take the lion's share of the investment pie.

Anticipating a change in investor sentiment, Saylor predicts:

"Conventional investors may consider diversifying their portfolios by allocating some funds, say 5-10%, to this new breed of crypto asset."

However, he argues that bitcoin will maintain its dominance, accounting for 60 to 70% of total investments.

Saylor also announced a change in his stance on Ethereum-ETFs, having previously doubted that the SEC would approve such investment vehicles. However, recent developments have changed his perspective on the issue.

Previously, Saylor had expressed concerns that the #SEC might classify Ethereum as a security, which could prevent the launch of investment products related to it. In addition, he suggested that other cryptocurrencies such as #BNB, #XRP and #Cardano could face similar regulatory scrutiny in the future.

It is worth noting that Michael Saylor made a significant profit of $370 million from the sale of #MicroStrategy shares, which emphasizes his financial acumen and strategic investment decisions.

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