Pro-XRP lawyer Bill Morgan has criticized Michael Saylor, co-founder of MicroStrategy, for his recent comments on various cryptocurrencies including ADA, Solana, XRP, and Ethereum. Morgan has published several articles attacking Saylor on the X platform, disagreeing with his views on altcoins.
Meanwhile, Ripple CEO Brad Garlinghouse has made bold statements amidst the ongoing legal battle with the U.S. Securities and Exchange Commission (SEC). In his recent comments, Garlinghouse not only expressed support for XRP but also for Ethereum (ETH).
At the Bitcoin for Corporations 2024 event, Saylor discussed the potential regulatory challenges that altcoins like Ethereum, BNB, Solana, XRP, and Cardano may face. He suggested that the SEC could classify these coins as unregistered securities, sparking a debate within the crypto community. However, Morgan disagreed with Saylor’s perspective, highlighting his limited understanding of the crypto market and the difference between Ripple and XRP.
It is worth noting that a judge has previously ruled that XRP is not a security, despite Saylor’s prediction of increased regulatory scrutiny. Morgan questioned Saylor’s ability to accurately predict Bitcoin’s future, considering his lack of knowledge about the legal status of XRP. He also raised concerns about Saylor’s endorsement of Bitcoin as a better investment option, suggesting it could be seen as promoting an investment contract.
Furthermore, Saylor criticized Ethereum during the MicroStrategy World 2024 conference, referring to it as a security. He stated that the SEC would likely never approve a spot Ethereum ETF and predicted that BNB, Solana, XRP, and Cardano would be categorized as unregistered securities. Saylor emphasized that Bitcoin is the only cryptocurrency that has achieved complete institutional adoption, dubbing it the “singular universal” crypto asset for institutional-grade investing.
Saylor, known for his dedication to Bitcoin, made these comments shortly after MicroStrategy revealed its addition of $1.65 billion in Bitcoin to its corporate reserves for the first quarter. The company has also launched MicroStrategy Orange, a decentralized identity system based on Bitcoin, further strengthening the Bitcoin ecosystem.
