Michael Saylor considers the «green» blockchain unreliable

Сейлор" href="https://noworries.media/biography/majkl-dzh-sejlor/" data-bio-id="3672"≥Michael Saylor, Chairman of MicroStrategy’s Investment Committee, shared his opinion on cryptocurrencies that use the Proof-of-Stake (PoS) consensus algorithm. The Bitcoin fan considers such digital assets unstable and prone to collapse.

Thus, Michael Saylor supported another bitcoin supporter, Matthew R. Crutter, who recently stated that the PoS consensus mechanism, which Ethereum has switched to, makes this cryptocurrency more vulnerable. Crutter suggested that regulators should investigate whether there is a possibility that green digital assets such as Ethereum and Cardano could collapse like Terra Luna.

«Bitcoin uses the PoW (Proof-of-Work) algorithm, so BTC is a more stable, reliable, secure, and efficient token. This is clear from the demand for ASIC miners. And the protocols that work on Proof-of-Stake are unstable, inefficient, non-transparent, and risky,» Michael Saylor tweeted.

Sailor’s comments provoked a negative reaction from some members of the ethereum community. In the comments to the bitcoin fan’s post, users began to list the disadvantages of the flagship cryptocurrency, including low programmability. However, Michael Saylor does not care about such comments, as the investor continues to buy bitcoins no matter what.

It is worth reminding that Saylor does not abandon his strategy of accumulating the flagship cryptocurrency even though the digital asset market is in decline. In November, the investor called the situation with bitcoin a «roller coaster,» but reminded that BTC has fallen to levels that are still 33% higher than they were when MicroStrategy first invested in BTC back in 2020. During this period, the company’s shares grew by 38%, outperforming tech giants like Apple and Amazon.

After purchasing 301 BTC worth $ 6 million in September, MicroStrategy’s reserves reached 130,000 BTC. The company has invested about $ 3.98 billion in cryptocurrencies. The current value of assets is approximately $ 2.25 billion. In September, Saylor stated that bitcoin has outperformed all its competitors — gold, silver, bonds, and other types of traditional assets.