Ethereum educator and advocate Anthony Sassano has advocated for someone to lead a Bitcoin-like charge on behalf of the Ethereum community, similar to Microstrategy’s Michael Saylor. He took to his X account (formerly Twitter) to ask if Ethereum would enjoy the same success as Bitcoin should a personality like Saylor promote the token.
The scenario advanced by Anthony Sassano is based on Saylor’s role in driving the adoption of Bitcoin. Michael Saylor and his company, Microstrategy, have become the face of Bitcoin adoption, strategically purchasing millions and millions of digital assets.
The company’s initiative has established Bitcoin as a source of value and as the best hedge against inflation, reducing its appearance as a speculative asset. While Microstrategy and Saylor have been more assertive than most, other entities have also been instrumental in promoting the asset.
Ethereum defender makes his case
The ETH advocate’s question caused quite a stir on X. Several users dropped their opinions and discussed at length why the ETH space needs its own high-profile champion. One user noted that it would be amazing and noted that the person’s influence will really provide a lot of help to Ethereum.
I still think there is an absolutely huge opportunity for someone to become Ethereum’s Saylor-like figure.
Simply buying ETH relentlessly no matter the price and then shilling ETH (and Ethereum!) endlessly to the general public.
I wish I had the money to do this myself 😅
– sassal.eth/acc 🦇🔊 (@sassal0x) December 22, 2024
Another user claimed that there could be a concentrated decentralized effort, noting that the action could have input from influencers, whales, and other users in the space. One mentioned that a centralized figure could help increase the price of ETH, using structured mechanisms. The user suggested a model that will include bonuses, token boosts, and borrowing mechanisms, noting that it could help accelerate the price of the token. One user talked about integrating performance and noted that it could make the strategy very effective.
Meanwhile, some users mentioned examples of personalities they thought could fill the gap. One user suggested Bit Digital CEO Samir Tabar, noting that his company mines Bitcoin to accumulate Ethereum, a move that has helped promote ETH as a proxy.
Others also proposed other candidates, with one user highlighting the influence that US President-elect Donald Trump could have on the price of Ethereum. He mentioned that his pro-cryptocurrency stance could be instrumental in shaping the future of the asset.
Challenges and broader implications for Ethereum
The initiative, however, was not well received by others, with most of them highlighting the dangers of centralized influence. One user noted that Saylor’s current and growing influence could be detrimental to the asset, noting that it holds around 2% of the total Bitcoin supply. The user noted that the development could deter others from adopting the asset, noting that a core Ethereum person could face the same criticism.
Others also talked about how difficult it is to create a company that maintains the same hunger for Ethereum that Microstrategy has for Bitcoin. One user said that the 75 million Ethereum tokens during its pre-sale create a unique dynamic that would discourage one entity from taking a central role. One user also said there could be conflict of interest issues, noting that large holders or validators may not want to become a centralized figure to protect their positions within the network.
Additionally, other users talked about the Ethereum ecosystem and its unique features. One user spoke about the state of the network without a ‘champion’ like Saylor, suggesting that someone like Bankless could fill the role. Meanwhile, another user said that the decentralized nature of the network makes it difficult for him to rely on a central figure like Saylor for his defense. The conversation also turned to the relationship between Bitcoin and Ethereum, with one user highlighting that Bitcoin’s 21 million limit makes it suitable for large-scale holdings.
Land a High-Paying Web3 Job in 90 Days: The Ultimate Roadmap
