Michael Saylor, CEO of MicroStrategy, has said during an interview with Altcoin Daily that Ethereum should be classified as a security because the asset was originally distributed to investors as part of an ICO.
According to him:
"Ethereum is a security, I think this is pretty obvious. The asset was launched during the ICO, there is a team of managers. There is a pre-mine, there’s a hard fork, you know there’s continual hard forks, there is a difficulty bomb getting pushed back."
Saylor has explained regular updates to the Ethereum network software indicate that the asset is a security.
Subscribe to our Telegram channel to get daily short digests about events that shape the crypto world
Saylor believes that for a cryptocurrency to be considered a commodity, it must not have an issuer or someone who "makes decisions." He has emphasized this type of digital asset is based on "completely decentralized protocols." The CEO of MicroStrategy has referred to Bitcoin as an example. He has said:
"If you want to position a product as a commodity, you are trying to create something that looks like gold in the digital space."