MicroStrategy CEO Michael Saylor says bitcoin is not the only cryptocurrency that can thrive

MicroStrategy CEO Michael Saylor says bitcoin is not the only cryptocurrency that can thrive

CEO Michael Saylor told CNBC on Tuesday he sees a bright future for a range of cryptocurrencies, not just bitcoin. Saylor, one of the most vocal bitcoin proponents, has over the past year by in the world's largest cryptocurrency by market value. In an interview Tuesday on Saylor said different cryptocurrencies serve different purposes, but it might take time for newcomers to the digital asset space to recognize those distinctions. For example, Saylor said, he sees bitcoin as "digital property" and a store of value, while ether and the Ethereum blockchain seek to disrupt traditional finance. "You're going to want to build your buildings on a solid footing of granite, so bitcoin is made to last forever — high integrity, very durable. Ethereum is trying to dematerialize exchanges and the finance establishment," Saylor said. "I think that as the market starts to understand these things, there's a place for everybody." MicroStrategy announced Monday that it with the intention of using proceeds to buy more bitcoin. The company also said Monday it is launching a program to sell $1 billion worth of additional stock over time. Saylor told CNBC the firm could use money from the stock offering to purchase bitcoin,