Michael Saylor, the executive chairman of Strategy, declared at the Bitcoin Corporate Day event on June 12 that investor confidence in Ethereum has collapsed.
His core argument is built on a single, hard-to-ignore number. Bitcoin’s share of the total crypto market, excluding stablecoins, climbed from roughly 41% in 2021 to nearly 70% by mid-2026.
The numbers tell a blunt story
Look at the price action and the picture gets clearer. Bitcoin has been trading in the $61,456 to $63,951 range during early to mid-June 2026. Ethereum, meanwhile, hovers between $1,620 and $1,683. For context, Ethereum peaked above $4,800 in late 2021.
Saylor’s framing is that the era of altcoin monetary premiums, the idea that tokens could command value simply by existing as “the next Bitcoin” or “digital oil,” is fading.
