Strategy's Executive Chairman and Bitcoin maximalist Michael Saylor is not concerned about the growing interest in Ethereum and other cryptocurrencies in financial reserves.
Saylor stated in an interview with Bloomberg on Friday, 'I believe there is an explosion of innovation across the entire crypto economy, which is beneficial for everyone in the digital asset space.'
Saylor focuses on Bitcoin
He added, 'I still believe that most of the capital flowing into this space is going to Bitcoin.' According to TradingView data, as of the time of publication, Bitcoin's market share is 60.18%.
Saylor also pointed out that the number of companies holding Bitcoin has increased from about 60 to 160 in the past six months. 'I focus on Bitcoin,' Saylor said. Bitcoin stock data shows that Strategy is the largest public Bitcoin stock, holding 628,791 Bitcoins, worth approximately $74.15 billion.
Saylor predicts that Bitcoin will outperform the S&P 500 index in the foreseeable future.
Meanwhile, Ethereum (ETH) was trading at $4,224 at the time of publication, having risen 23% in the past 30 days. Many market participants attribute this price surge to the growing institutional and ETF demand for Ethereum.
BitMine holds 833,100 ETH worth $3.2 billion, making it the fourth largest public company holding cryptocurrency.
