- Ethereum Merge, the biggest and most popular event in crypto history, occurred on 15 September.
- Bitcoin is the leader among all cryptocurrencies and the biggest cryptocurrency following PoW.
On 17 September 2022, Bitcoin enthusiast Michael Saylor noted that Bitcoin is becoming stronger despite the Ethereum Merge. According to beliefs, Saylor’s proof-of-work (PoW) is a globally acknowledged and verified way to create a digital commodity.
The Ethereum Merge happened on 15 September, and the Merge upgraded the working mechanism of the Ethereum blockchain from proof-of-work(PoW) to proof-of-stake(PoS).
Before the Ethereum Merge happened, it was the most viral event and topic in the media and the most popular topic in crypto history.
Michael Saylor highlighted that Bitcoin would keep strengthening after the Merge, although he said PoW is the most proven way of developing a digital commodity. Saylor earlier termed Ethereum as a “security.” following Ethereum’s switch; Bitcoin operates around 95% of the overall market centred on the PoW consensus mechanism.
"Ethereum’s big software update on Thursday may have turned the second-largest cryptocurrency into a security in the eyes of a top U.S. regulator." – @WSJ https://t.co/ROoGSs1s3W
— Michael Saylor
Saylor said that “I foresee that Bitcoin will only become stronger. It won’t be weaker. PoW is the best way worldwide to establish a digital commodity.”
Rather, Michael Saylor argues it is the “cleanest industrial use of electricity and is improving its energy efficiency at the fastest rate across any major industry.”
Saylor supported his argument by referencing the H2 Global Bitcoin Data Mining review published in July by the Mining Council of Bitcoin, a group of 45 companies that claim to represent 50.5% of the global network, quoting: “Our metrics show ~59.5% of energy for bitcoin mining comes from sustainable sources and energy efficiency improved 46% YoY.”
As per recent reliable information, Michael Saylor, who was operating Chief Executive Officer of MicroStrategy, resigned from his position of CEO and acquired a new position of Executive Chairman in the firm with the motto of purchasing Bitcoins.
MicroStrategy plans to sell its stock amounting to $500 million to purchase more cryptocurrencies.
Two years ago, @MicroStrategy embarked on a #Bitcoin strategy, adopting BTC as its primary treasury reserve asset, acquiring 21,454 bitcoins at an aggregate purchase price of $250 million or ~$11,653 per bitcoin.
— Michael Saylor
According to the data from CoinMarketCap, while writing this article, Bitcoin is trading at $18,473.10, the lowest trading price of Bitcoin in the last seven days.
Source: https://www.thecoinrepublic.com/2022/09/19/microstrategy-michael-saylor-only-bitcoins-pow-works-ethereum-weaker-post-pos-adoption/