MicroStrategy boss Michael Saylor has room in his heart for cryptocurrencies other than Bitcoin. As revealed by the billionaire in an episode of CNBC’s Fast Money show. In which he expressed his opinion on the sector and where he sees things in the future.
In an interview with CNBC senior reporter Courtney Reagan on Tuesday, Saylor was initially asked why the software company is still buying BTC. The question concerned the announcement of 14 June. Where he pointed out that the company could sell up to 1,000 million dollars in shares to make more acquisitions of BTC.
Saylor described Bitcoin as”digital gold in a large tech network.” And, he predicted that it will be adopted by billions of people around the world.
“Thank you @CourtReagan & @GuyAdami for inviting me on @ CNBCFastMoney to talk about our #Bitcoin strategy. The growing institutional adoption of BTC versus gold as a hedge for inflation, the $MSTR capital markets strategy, and the future of the crypto industry.”
However, perhaps the most interesting comments from the interview came when Fast Money co-host Guy Adami brought up the topic of “Bitcoin maximalism.” After searching for the term in Google. He asked Saylor about his opinion on Ethereum and whether there was room in the company’s strategy for ETH as well.
Saylor said he saw Bitcoin as ” digital property.” And, the most valuable and dominant network, comparing it to the foundations of the building blocks of the ecosystem.
Jack Dorsey highlights group’s efforts to get Ethiopian government to adopt Bitcoin
Twitter CEO and cryptocurrency advocate Jack Dorsey has highlighted the efforts of a group of entrepreneurs who are pressuring the Ethiopian government to integrate Bitcoin (BTC) into its economy.
In a tweet on Wednesday, Dorsey shared a Twitter thread from Project Mano. A group of Ethiopian-based entrepreneurs who are trying to get the government to consider mining and holding Bitcoin.
Dorsey seems to have given the project a useful exposure. Well, Project Mano’s Twitter followers doubled, going from 500 when he shared the thread to about 1,000 at press time.
Project Mano noted in a Twitter thread Tuesday that “for the past 6 months or so,” the group has been working to pressure the Ethiopian government to “combat rising inequalities and global inflation.” All this, by adopting Bitcoin.
Cryptocurrency miners seek affordable energy in Texas
The recent crackdown on cryptocurrency mining in China has raised concerns about the potential impact a hashrate migration could have on Texas ‘ unreliable electricity market. As an increasing number of displaced miners look to the Lone Star State.
Texas ‘ abundant renewable energy sources and highly unregulated power grid make the state an obvious choice for the migration of miners from China and elsewhere. Since 20% of Texas ‘ electricity has been generated by wind since 2019.
Speaking to CNBC, Brandon Arvanaghi, a former security engineer at cryptocurrency exchange Gemini, predicted that Texas will see “a dramatic change in the coming months” when miners seek to establish themselves.
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