Bitcoin bull Saylor believes Ethereum may face Terra collapse-like situation
Michael Saylor responded to a claim that Ethereum may face a big downfall in near future if huge numbers of people will unstake their ETH at once.
On 14 December, YouTube channel Trader University published a video on the risk associated with Ethereum (ETH).
In the video, the channel host said that huge numbers of ETH are taking birth and when an unstake code will be available then huge numbers of stakers will unstake & sell their ETH coins and that situation may occur like Terra (Luna) downfall.
Michael Saylor, Bitcoin maximalist & former CEO of business intelligence firm Microstrategy, responded to this video and noted that Bitcoin is safe over any kind of such issues.
Saylor also criticised PoS tech based cryptocurrencies and said that PoS Protocols are inherently unstable, inefficient, opaque, and risky due to their fragile design.
An Ethereum supporter noted that Microstrategy holds a huge amount of Bitcoins at a $1.62 Billion loss, while Microstrategy was able to make a $0.662 Billion profit if it chose Ethereum over Bitcoin.
Earlier this last year, during a bullish increment in the price of Solana (Sol), Microstrategy’s former CEO said that no doubt that a huge amount of profit can be made easily by holding altcoins but at the same time he asserted that holding Bitcoin is free from any kind of risks.
Bitcoin price action
At the time of writing this article, the price of Bitcoin is $17,017 and this price is down by 3.26% over the last 24 hours’ trade price.
The all-time high of Bitcoin was $69k/BTC, which hit in the 2021 crypto bull run.
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