Michael Saylor Criticized For Supporting Sam Bankman-Fried

Michael Saylor Latest Tweet News: The crypto community criticized American entrepreneur Michael Saylor for his latest statement about Sam Bankman-Fried. The MicroStrategy cofounder is famous for his support for adoption of Bitcoin in the financial world. His company stands out as the largest institutional holder of Bitcoin despite facing heavy unrealized losses due to recent price drop. Earlier this year, Saylor stepped down from the role of Microstrategy CEO to pivot to a crypto focused position.

Also Read: Microstrategy Earnings: What Future Holds For Largest Bitcoin Holding Company

Michael Saylor About Sam Bankman-Fried

Saylor has a knack for tweeting random statements on Bitcoin and its future prospects. In a latest tweet, he suggested that the FTX founder who is subject to intense regulatory scrutiny over allegations of user money fraud, indirectly created lots of Bitcoin maximalists. However, Saylor’s tweet received heavy criticism from the crypto community, which is already burdened by the crash that resulted from FTX collapse. Saylor’s statement was hinted at SBF role in indirectly helping the cause of Bitcoin adoption thanks to the recent collapse of FTX.

“Sam created a million Bitcoin Maximalists.”

Responding to this, a crypto enthusiast said the maximalists promoted centralized protocols instead of decentralized Finance (DeFi). Mario Romero’s tweet said,

“Maximalist were the ones promoting centralized venues instead of DeFi. Sam defrauded a lot of people that listened to them.”

Microstrategy currently holds around 10,000 BTC. As of writing, BTC price stands at $16,654, down 0.11% in the last 24 hours, according to price tracking platform CoinMarketCap. Meanwhile, it remains to be seen how long the crypto market would take to recover from the collapse caused by FTX. Compared to the highs in the last 30 days, BTC is now don by around 30%. And same is the case with most other major cryptocurrencies.

Also Read: FTX Launches Asset Review; Here’s How Remaining Holdings Stands

Anvesh reports major developments around crypto adoption and trading opportunities. Having been associated with the industry since 2016, he is now a strong advocate of decentralized technologies. Anvesh is currently based in India. Follow Anvesh on Twitter at @AnveshReddyBTC and reach him out at [email protected]

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.