Michael Saylor: altcoins can lead to the collapse of crypto companies

Bitcoin BTC $94,905.04 Bitcoin 0.06% Market capitalization $1.88 trillion VOL. 24 hours $0.91 billion is «steel,» while Ethereum ETH $1,828.69 Bridged Ether (StarkGate) 2.52% Market capitalization $0.16 billion VOL. 24 hours $0.66 billion and Solana SOL $149.67 Binance-Peg SOL -1.19% Market capitalization $0.16 billion VOL. 24 hours $0.27 billion are «balsa» and «clay bricks.» This metaphor was used by Сейлор" href="https://noworries.news/biography/majkl-dzh-sejlor/" data-bio-id="3672">Michael Saylor, chairman of the board of directors of MicroStrategy, commenting on the risks of using altcoins as collateral for financial transactions. He warned that applying leverage to such assets could lead to new disasters like the FTX or Terra Luna crash in 2022.

In a conversation with TheBlock, Saylor emphasized that only bitcoin is a truly «undeformed» asset, unlike Ethereum or Solana. «When I use leverage, I do it with the right material. Bitcoin is not deformable. It cannot be compared to other tokens,» he explained. In his opinion, attempts to use altcoins as financial instruments on a large scale can end in disaster.

Sailor’s warning comes amid news that some companies have started to build up reserves in other cryptocurrencies. For example, Upexi Inc. announced that it had raised $ 100 million to develop crypto initiatives, including the creation of a Solana-based treasury. Earlier, BioNexus Gene Lab Corp. announced the inclusion of Ethereum in its reserve assets, becoming the first company on the Nasdaq with such a strategy.

Despite the growing popularity of altcoins, MicroStrategy maintains its focus exclusively on bitcoin. According to BitcoinTreasuries.net, the company owns 534,741 BTC worth more than $ 47.19 billion. This position emphasizes Sailor’s confidence in bitcoin as the only truly reliable asset among digital currencies.

At the time of publication, BTC’s value was $ 88,226, up 1.13% per day. MicroStrategy shares also showed positive dynamics, rising by 0.23% after the end of the main trading session.