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bitcoin maxima Michael Saylor opined that several alternative cryptocurrencies, such as ethereum and Ripple, will not achieve institutional acceptance in this decade.
MicroStrategy CEO Michael Saylor told attendees at the annual bitcoin (btc) event for corporations that Wall Street regulators view “everything under the pile” as unregistered cryptoasset securities.
“You could see the writing on the wall when the bitcoin Spot ETF was approved in January. At the end of May, you will know that ethereum will not be approved, and when ethereum is not approved this summer, it will be very clear to everyone that eth is considered a crypto asset security, not a commodity.”
Michael Saylor, CEO of MicroStrategy
x.com/saylor/status/1786437363280806062″ target=”_blank” rel=””>Taylor It also grouped other non-bitcoin cryptocurrencies such as Solana (SOL), Ripple (XRP), and Cardano (ADA) into the same security pool of unregistered cryptoassets.
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ethereum Crackdown
The comments come as several bitcoin ETF spot issuers have filed for similar products backed by ethereum (eth), cryptocurrencies' second-largest digital asset. In response, the SEC has delayed several eth spot ETF filings from issuers such as BlackRock, Fidelity, and Grayscale.
Additionally, the US SEC has implemented an ongoing crackdown on ethereum and the broader crypto industry, as proponents argue that tokens like eth fall outside the scope of existing securities laws.
Recent reports citing a year-old document revealed that SEC Chairman Gary Gensler has considered eth a security since at least last year.
Prompted by eth's transition to a proof-of-work consensus, the SEC has issued a Wells notice to major eth stakeholders such as ethereum crackdown” target=”_blank” rel=””>consensus and challenge giants like Uniswap in an investigation.
