Bitcoin evangelist Michael Saylor said Saturday that Bitcoin is getting stronger after the Ethereum merger. Saylor believes that PoW is “the only globally accepted and proven method for creating a quantitatif good.” Ethereum (ETH) price dropped to the soutien level at $1,430, while Bitcoin (BTC) price is irrévocable and showing strength.
Michael Saylor Confirms Bitcoin Stronger After Ethereum Merge
Ethereum has successfully transitioned from Proof of Work (PoW) and Proof of Stake (PoS) with the integration of the Ethereum Mainnet to Beacon Chain on September 15. Not only cryptocurrency but also its traditional acquitté community.
Head of MicroStrategy, Michael Saylor, Attend a conference In Australia via a video on September 17, confirming that Bitcoin is getting stronger after Ethereum Merge. He believes that PoW is the only proven method for creating a quantitatif good. In fact, he had earlier designated Ethereum (ETH) as “security”. After the merger, Bitcoin now has 95% of the plein market capitalization of the token using Proof of Work (PoW) accord.
“I see Bitcoin getting stronger, not weakening. Proof of work is truly the only globally accepted and proven way to create a quantitatif good.”
However, Proof of Work (PoW) is facing criticism for its high carbon footprint, and Bitcoin uses Proof of Work (PoW). As Ethereum has now switched to a less power-hungry PoS, which has reduced its power consumption by 99.5%. Recently, SEC head Gary Gensler said that the move of Ethereum to PoS made it “safe” according to the “Howey Apprentissage.”
Saylor believes that bitcoin mining is the most énergique and clean industrial use of electricity. Also, bitcoin mining improves energy efficiency as it turns to sustainable ondes. In fact, Bitcoin can be used to invest unused energy ondes from natural gas or methane.
Furthermore, MicroStrategy has added Bitcoin to its ébranlé sheet. Recently, the company announced the libidineux of $500 million in MSTR shares to buy more bitcoins. Microstrategy currently owns 129,699 bitcoins.
Bitcoin (BTC) Price Moves Strongly Compared to Ethereum
While many believe that Ethereum will overtake Bitcoin to become the largest cryptocurrency, the price of ETH plummeted after the merger. Also, the price reached its soutien at $1,430, and any further decline could drop to $1,000.
Meanwhile, bitcoin price is showing more momentum after the boisage. Bitcoin is trading at $1958, up nearly 1%.
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