Michael Saylor Says: Will Bitcoin (BTC) Get Stronger After Consolidation?
The content site is one of the sites that provide the service of answering general questions and solving puzzles and crossword puzzles
Where the content site is primarily interested in answering your questions in all areas, including solving puzzles and crossword puzzles
Answer Michael Saylor Says: Will Bitcoin (BTC) Get Stronger After Consolidation?
Bitcoin supporter Michael Saylor said Saturday that Bitcoin (BTC) will get stronger after the Ethereum integration upgrade.
Saylor believes that PoW is the only globally accepted and proven method for creating a digital good.
Ethereum (ETH) price dropped to the support level at $1,430, while Bitcoin (BTC) price is stable and showing strength.
Michael Saylor: Will Bitcoin (BTC) Get Stronger After Consolidation?
Ethereum has successfully moved from PoW to PoS after merging the Ethereum Mainnet upgrade into the Beacon Chain on September 15th.
Michael Saylor, President of MicroStrategy, who attended a conference in Australia via the video On September 17th, Bitcoin will get stronger after the Ethereum merger.
Read:Meet one of the personalities behind the $4 billion Bitcoin theft from Bitfinex
Whereas, Saylor believes that PoW is the only proven way to create a digital good.
He has previously commented about Ethereum as a security token and not similar to Bitcoin.
After the merger, Bitcoin now has 95% of the total market capitalization of cryptocurrencies using the Proof of Work (PoW) mechanism.
Saylor added:
I see Bitcoin getting stronger.
Although Saylor has praised PoW, PoW has been criticized for its high carbon footprint.
While Ethereum has turned into a allocation mechanism, it has become environmentally friendly and less energy consuming.
For his part, Saylor believes that Bitcoin mining is the most efficient industrial use as it uses clean electricity.
Also, bitcoin mining improves energy efficiency as it turns to sustainable sources.
In fact, Bitcoin can be used to invest unused energy sources from natural gas or methane, according to Saylor.
Recently, MicroStrategy has added more bitcoin to its balance sheet.
Recently, the company announced the sale of $500 million of MSTR stock to buy more bitcoins.
Read:Twitter founder reveals his plan to help cryptocurrency adoption
Microstrategy currently owns 129,699 Bitcoins.
Bitcoin (BTC) Price Moving Strongly Compared to Ethereum:
While many believe that Ethereum will overtake Bitcoin to become the largest cryptocurrency, the price of Ethereum plummeted after the merger upgrade.
Ethereum price reached its support level at $1420, and any further decline could drop to $1,000.
Meanwhile, Bitcoin price is showing more momentum after the consolidation.
Bitcoin price is trading at $19,770, up almost 1%.
Read also:
Learn about cryptocurrency exchanges that support ETHW cryptocurrency
Ripple Rise 8%, Bitcoin Drops to Weekly Lows
And you can ask questions on the content site through the word “Ask a question” at the top of the site, where we answer your questions in a short time