Michael Saylor Dragged For Failed Spot Ethereum ETF Prediction

Michael Saylor's Ethereum Prediction Falls Short

Michael Saylor, the renowned founder and chairman of MicroStrategy, has recently come under scrutiny for his stance on Ethereum. Despite his consistent praise for Bitcoin, Saylor's recent comments regarding Ethereum as a security have drawn criticism.

Saylor's Ethereum Prediction Fails

In his speech at MicroStrategy's "Bitcoin for Corporations" event, Saylor boldly declared that Ethereum was a security. He asserted that anything below the Bitcoin stack fell under this classification. He further stated that Ethereum would never be approved for a spot ETF, accepted by Wall Street, or recognized as an institutional-grade crypto asset.

However, just weeks later, the United States Securities and Exchange Commission (SEC) approved a spot Ethereum ETF product on May 23. This dramatic turnaround in the SEC's stance has cast doubt on the reliability of personal opinions held by industry leaders like Saylor.

Debate on Saylor's Criticism

The approval of the Ethereum ETF has sparked debate within the crypto community regarding the validity of Saylor's previous stance. Some argue that he should be criticized for his inaccurate prediction, while others maintain that the SEC's change of heart remains unexplained.