XRP Lawyer Mocks Saylor Analysis Of Security, Asks For Clarification

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CoinGape
19w ago2022-08-01

MicroStrategy CEO, Michael Saylor’s recent podcast comments have attracted huge criticism from the global crypto industry leaders and experts. XRP holder’s lawyer in the SEC vs Ripple lawsuit has challenged Saylor to clarify his extreme views over the altcoins.

Saylor receives Huge criticism

John Deaton in the Twitter thread mentioned that MicroStrategy CEO’s comments implied that everything other than Bitcoin (BTC) is a security. Saylor asserted that if you work ethically and are aware of the law then you would only build on the BTC network. He indirectly said that rest of the coins are securities.

XRP lawyer indicated that Saylor’s analysis of a security is deeply flawed. This comes as surprise considering how intelligent he is. However, his statement about ethics is absurd and he needs to be better than that.

He added that Saylor is a Bitcoin maximalist and that is ok but he there is a major problem with his analysis. It is fair to distinguish the purpose behind the creation of Bitcoin and Altcoins. However, the criticism also implies to BTC too.

Earlier, Ethereum Co founder Vitalik Butterin slammed MicroStrategy CEO over his comments. He called Saylor a “total Clown”.

XRP asks for clarification

According to the data, MicroStrategy holds 129,218 Bitcoin. Its entry value stands at $3.97 billion while today’s value stands at around $2.99 billion.

Bitcoins saw some recovery over the past month. BTC price surged by more than 21%. The token is trading at an average price of $23,158.46, at the press time.

XRP lawyer mentioned that for the absurdity of calling XRP a security, he has already used Spend the Bits as an example. It helped him to gain amici curiae status in the lawsuit against SEC. However, he wished that Saylor takes his offer to discuss the issues.

Meanwhile, XRP price has dropped by more than 3% in the last 24 hours. It is trading at an average price of $0.38, at the press time.

Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]
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