Michael Saylor Warns of Ethereum Volatility Over the Next Three Years

MicroStrategy chief Michael Saylor, during a talk at the Blockchain Economy Summit in Istanbul, criticised Ethereum on the eve of the The Merge upgrade. According to CoinMarketCap.

He said that stabilising the second-largest cryptocurrency may require additional time.

Saylor noted that institutional investors need to see a finished version of the protocol, functioning without hacks for 5–10 years. The Merge upgrades open up new opportunities for hackers, he added.

The CEO of MicroStrategy conceded that Ethereum could be unstable over the next three years. He also noted that the cryptocurrency’s monetary policy could evolve in the coming years, whereas Bitcoin’s issuance and mining principles are set for the next 1,000 years.

In Saylor’s view, investors must be confident that their assets will not lose value due to a potential increase in the number of coins in circulation. As a result, he does not invest in Dogecoin or the shares of certain large technology companies.

Earlier in July, Saylor called for Ethereum to be classified as a security, as the asset was originally distributed to investors through an ICO.

The head of MicroStrategy does not intend to sell Bitcoin even in adverse market conditions.

Follow ForkLog’s Bitcoin news on our Telegram — cryptocurrency news, prices and analytics.