Ethereum educator and advocate Anthony Sassano has made a case for someone to lead a Bitcoin-like charge on behalf of the Ethereum community, similar to Microstrategy’s Michael Saylor. He took to his handle on X (formerly Twitter) to ask if Ethereum would enjoy the same success as Bitcoin should a Saylor-like personality promote the token.
The scenario Anthony Sassano teased is based on Saylor’s role in the push for Bitcoin adoption. Michael Saylor and his firm, Microstrategy have become the face of Bitcoin adoption, buying millions upon millions worth of the digital asset strategically.
The company’s initiative has installed Bitcoin as a source of value and as a better hedge against inflation, reducing its appearance as a speculative asset. While Microstrategy and Saylor have been more steadfast than most, other entities have also been integral in promoting the asset.
Ethereum advocate makes his case
The ETH advocate’s question caused quite a stir on X. Several users dropped their takes, discussing at length the reason why the ETH space needs its own high-profile champion. A user noted that it would be incredible, noting that the influence of the person will really provide great help to Ethereum.
I still think there is an absolutely massive opportunity for someone to become Ethereum’s Saylor-like figure
Just relentlessly buying ETH no matter the price and then shilling ETH (and Ethereum!) endlessly to mainstream audiences
I wish I had the money to do this myself 😅
— sassal.eth/acc 🦇🔊 (@sassal0x) December 22, 2024
Another user claimed there could be a concentrated decentralized effort, noting that the action could see input from influencers, whales, and other users in the space. One mentioned that a centralized figure could help boost ETH’s price, using structured mechanics. The user suggested a model that will include bonding, token boosts, and borrowing mechanisms, noting that it could help accelerate the price of the token. One user talked about yield integration, noting that it could make the strategy very effective.
Meanwhile, some users brought up examples of personalities that they felt could fill the gap. A user suggested Bit Digital CEO Samir Tabar, highlighting that his company mines Bitcoin to accumulate Ethereum, a move that has helped to promote ETH as a proxy.
Others also proposed other candidates, with a user highlighting the influence that United States President-elect Donald Trump could have on the price of Ethereum. He mentioned that his pro-crypto stance could be pivotal in shaping the future of the asset.
Challenges and the wider implications for Ethereum
The initiative, however, didn’t go down well with others, with most of them highlighting the dangers of centralized influence. A user noted that Saylor’s present and growing influence might be detrimental to the asset, noting that he holds about 2% of the total Bitcoin supply. The user noted that the development could deter others from adopting the asset, noting that a central person for Ethereum could face the same criticism.
Others also talked about how hard it is to create a company that will sustain the same hunger for Ethereum as the one Microstrategy has for Bitcoin. A user said Ethereum’s 75 million token during its pre-sale creates a unique dynamic that would discourage an entity from taking up 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.
In addition, other users talked about Ethereum’s ecosystem and its unique characteristics. A user talked about the state of the network without a ‘champion’ like Saylor, suggesting that someone like Bankless could fill the role. Meanwhile, another user said the decentralized nature of the network makes it hard for it to rely on a central figure like Saylor for advocacy. The conversation also trickled into the relationship between Bitcoin and Ethereum, with a user highlighting Bitcoin’s 21 million cap makes it suitable for high-scale holding.
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