Michael Saylor: Altcoins are losing currency premium due to fierce competition. Future value depends on actual utility

Michael Saylor, founder and executive chairman of Strategy, recently stated that the current encryption market is in fierce competition, and there is a constant struggle between Ethereum, Solana, and BNB. Sui was once regarded as the "next Solana" but the narrative has been shattered, and now the market is starting to pay attention to Hyperliquid again.<br /> At the same time, on the Layer2 track, events such as Arbitrum and Base are also in fierce competition. All of this competition weakens the "currency premium" that these cryptocurrencies are originally given.<br /> Saylor believes that even the staunchest supporters of these tokens are now beginning to realize that they are not currencies, nor will they receive a premium from their monetary attributes, and that their future value will depend on their actual utility.<br /> The past 12 months have been extremely favorable times for Bitcoin, further consolidating its position as the dominant digital currency network. The market has established Bitcoin as "digital capital" and proved that the concept of "digital credit" is feasible.