MicroStrategy CEO Michael Saylor Says No Opinion on Dog Coins in Dogecoin-Shiba Inu Face-Off

Saylor is a Bitcoin bull and remains vocal about supporting the most valued cryptocurrency in the world.

By Radhika Parashar | Updated: 1 November 2021 18:23 IST

MicroStrategy CEO Michael Saylor Says No Opinion on Dog Coins in Dogecoin-Shiba Inu Face-Off

Following the Dogecoin, several copycats of the dog coin have emerged in the market

Highlights

American entrepreneur Michael Saylor disinterested in dog coins
Refrains from choosing between Dogecoin and Shiba Inu
Continues support for Bitcoin

Dogecoin and Shiba Inu have both registered major hikes in their values even as Bitcoin and Ether seem to have stumbled a little. But not everyone is convinced. Micheal Saylor, the CEO of US-based business intelligence firm MicroStrategy, refrained from taking any sides in this on-going market tussle, maintaining a neutral opinion on the situation. During a television interview, the 56-year-old millionaire said he has no opinion on one dog coin competing with the other – while reinstating his support for world's most-valued cryptocurrency, the Bitcoin.

“There are the savers that want to buy reserve assets like Bitcoin, there the technology venture capital funds and they want to invest in the next DeFi (decentralized finance protocol) or NFT (non-fungible token) platform and then there are the speculators and the entertainers and they are going to have a new meme-coin. Everybody has their thing. It's all a part of the crypto world. I have no opinions on one dog coin versus other dog coins, I stay in my name, Bitcoin,” Saylor told the news anchor.

The entrepreneur also posted a snippet of this interview on his Twitter handle. Take a look.

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I have no opinions about one dog coin vs. another dog coin. I stay in my lane, Emily. #Bitcoin pic.twitter.com/8ujFWxZtne
— Michael Saylor⚡️ (@saylor) October 30, 2021

Saylor is recognised as a bull in the crypto-space with his Bitcoin purchases. MicroStrategy currently holds over 114,042 bitcoins worth around $3.16 billion (roughly Rs. 23,670 crore), a report by ElevenNews said.

Saylor's not-so-supportive reaction to the trending dog coins seemingly resonates with what US' whistleblower Edward Snowden recently tweeted about these meme coins.

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“If you got talked into exchanging your hard-earned savings for some new dog money because a meme said you'd get rich, please carefully consider your odds,” Snowden wrote on Twitter – making the Dogecoin vs Shiba Inu face-off even spicier.

i say this with love:

if you got talked into exchanging your hard-earned savings for some new dog money because a meme said you'd get rich, please carefully consider your odds of outsmarting a market that sold to you its stake in *not even dog money but a CLONE of dog money*
— Edward Snowden (@Snowden) October 31, 2021

The last week turned out to be quite in favour for these rival dog-based cryptocurrencies. While the Dogecoin touched a daily high of 29.13 percent last week, the Shiba Inu grew by 46 percent on October 27.

As per the Gadgets 360 crypto-price tracker, the current token value of the Dogecoin is $0.29 (roughly Rs. 21), the Shiba Inu is trading at a risen value of $ 0.000072 (roughly Rs. 0.0054).

Interested in cryptocurrency? We discuss all things crypto with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.

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Further reading: Dogecoin, Shiba Inu, Michael Saylor, MicroStrategy, Bitcoin, Cryptocurrency

Radhika Parashar

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Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at RadhikaP@ndtv.com. More