Michael Saylor: approval of spot Ethereum-ETFs will benefit bitcoin
-- The co-founder of MicroStrategy has spoken out on the approval of Ethereum-based crypto-ETFs.
-- This asset class will benefit the first cryptocurrency, Sailor believes.
-- The entrepreneur believes that spot Ethereum-ETFs create another "line of defense" for bitcoin.
Michael Saylor, co-founder of technology giant MicroStrategy, has spoken out about the US Securities and Exchange Commission's (SEC) approval of spot Ethereum-ETFs. The businessman believes that they will benefit bitcoin.
According to Saylor, the approval of any digital asset by regulators has a positive impact on the industry as a whole. This is progress that strengthens the entire crypto industry, the entrepreneur believes.
"Yes, I think it's good for bitcoin. Moreover, I think it can benefit it in a tangible way because politically we are much stronger with the support of the whole industry," Michael Saylor said.
