The long-standing debate about whether Ethereum is a commodity or a security was recently brought to court.
While the SEC claims that ETH is a security, Ethereum development company Consensys recently stated in the lawsuit it filed against the SEC that ETH is not a security.
At this point, while many comments have been made about ETH, the latest evaluation came from MicroStrategy founder Michael Saylor, known for his support for Bitcoin.
Saylor, who made surprising statements about Ethereum, claimed that ETH is a security.
Speaking at the MicroStrategy World 2024 conference yesterday, Saylor argued that the largest altcoin is a security, not a commodity.
Michael Saylor went further, stating that the SEC will classify Ethereum as a security this summer and reject spot Ethereum ETFs.
Saylor believes that the SEC will classify many altcoins other than ETH as securities, such as BNB, Solana (SOL), Cardano (ADA), and XRP.
“Ethereum should be considered a security, not a commodity. After ETH, you will see that many altcoins such as BNB, Solana, Ripple, Cardano are also unregistered securities.”
The SEC will not approve any spot ETH ETFs. Ethereum and other altcoins, which are securities, will never be accepted by Wall Street. “None of them will be accepted as cryptocurrencies by mainstream institutional investors.”
After these statements, the famous name also touched upon Bitcoin and argued that Bitcoin is the only leading cryptocurrency in institutional acceptance. Saylor described BTC as the “only universal” cryptocurrency suitable for institutional-level investments and added that there will be no other cryptocurrency than Bitcoin.
*This is not investment advice.
