Michael Saylor, the Executive Chairman of Strategy and a steadfast Bitcoin advocate, remains calm as treasury companies show increasing interest in Ethereum (ETH) and other cryptocurrencies.
“I think there is a wave of explosive innovation happening across the entire cryptocurrency economy. Overall, this is positive for everyone in the digital asset space,” Saylor shared on Friday.
Saylor is “focused” on Bitcoin
“I still believe that most of the capital flowing into the crypto market is going into Bitcoin,” he added. According to data from TradingView, the Bitcoin Dominance Index — measuring Bitcoin’s market share in the total crypto market capitalization — is at 59% at the time of writing.
He also noted that over the past 6 months, the number of companies holding Bitcoin increased from approximately 60 to 160. “Therefore, I am absolutely focused on Bitcoin,” Saylor affirmed.
According to data from BitcoinTreasuries.NET, Strategy is currently the publicly listed company with the largest Bitcoin stash, amounting to 628,791 BTC worth approximately $74.15 billion. In second place is MARA Holdings with about 50,639 BTC — more than 12 times less.
Saylor predicts Bitcoin will outperform the S&P 500 index in the “indefinite future.”
“I think Bitcoin is digital capital,” he added.
Increased interest in ETH has long been anticipated
His comments came less than a month after Bitcoin reached a new all-time high of $123,100 on July 14, before correcting to $118,339 at the time of writing.
Meanwhile, ETH is at $4,224, up 23% in the past 30 days. This price increase follows forecasts from several analysts, stating that ETH will experience a strong recovery after falling below $2,000 in March.
Many participants in the crypto market believe this surge is due to the growing demand from institutions and ETF funds for ETH. On Friday, the market for publicly listed companies holding ETH rose to $11.77 billion, led by BitMine Immersion Technologies and SharpLink Gaming.
BitMine owns 833,100 ETH worth $3.2 billion — ranking fourth among publicly listed companies holding any cryptocurrency.
SharpLink and The Ether Machine hold ETH worth $2 billion and $1.34 billion, respectively, while the Ethereum Foundation and PulseChain complete the top 5 list.
