Michael Saylor’s Shift on Cryptocurrency Reserves

Michael Saylor, co-founder of Strategy and a Bitcoin maximalist, recently endorsed a multi-token cryptocurrency reserve that includes XRP during a talk with CNBC’s Sara Eisen.

He deemed this move “bullish” for both Bitcoin and the wider cryptocurrency landscape. Previously, Saylor was against investing in altcoins, yet he views this new approach as a progressive step forward.

> “I believe that the best thing for the country is to move forward with an enlightening progressive policy toward digital assets,” he stated.

In his 2022 podcast appearance, Saylor had described XRP, linked to Ripple, as an unregistered security. He urged the U.S. Securities and Exchange Commission (SEC) to take action against XRP and other altcoins.

The unexpected news of a multi-token reserve featuring XRP, Cardano (ADA), and more has faced significant pushback. Even crypto advocates like Variant CLO Jake Chervinsky criticized the move.

> “This is a distraction from the real work that must be done on stablecoin and market structure legislation, among other big priorities,” he remarked.