Michael Saylor believes that the only way to create a digital commodity is through proof of work. After the Ethereum fork, he predicted that Bitcoin would only grow stronger. At the time of writing Ethereum is currently trading at $1,432.02 which is a 2.66% price decline in the last 24 hrs. while Bitcoin is trading at $19,853.94 a price increase of 0.53% in the last 24 hrs.
On 15 September, Ethereum completed its transition from Proof-of-Work (PoW) to Proof-of-Stake (PoS), merging the Ethereum mainnet with the Beacon Chain. The merge was one of the most anticipated events in the crypto community and attracted the attention of both traditional finance and cryptocurrency circles.
MicroStrategy President Michael Sayler is a well-known bitcoin advocate. He has been a vocal supporter of the major cryptocurrencies since the beginning of this year.
In a video conference in Australia, he said that he believes the Ethereum merger has made Bitcoin stronger. And he believed that PoW was the only way to create a digital commodity. Whereas according to Howe’s test ethereum will only act as a security
Although Proof-of-work has been disputed because it is not energy efficient and environmentally friendly, Ethereum has switched to PoS which is more energy efficient and reduces energy consumption by 99.9%.
Saylor Refers to Bitcoin Mining as the Cleanest
He believes that among the industrial uses of electricity, bitcoin mining is the most efficient and clean. Furthermore, the energy efficiency of bitcoin mining is improving as it turns to sustainable sources. In fact, it is possible to monetize untapped natural gas or methane gas energy sources with bitcoin.
The Ethereum PoS has received a lot of support, but after the merge, its price dipped to $1430. However, BTC is showing upward momentum.
