Michael Saylor: Altcoins are losing their monetary premium due to intense competition, and their future value depends on actual utility

Strategy founder and executive chairman Michael Saylor recently stated that the current cryptocurrency market is in fierce competition, with ongoing struggles between Ethereum, Solana, and BNB. Sui was once seen as the "next Solana," but that narrative has collapsed, and now the market is starting to focus on Hyperliquid.

Meanwhile, in the Layer 2 space, projects like Arbitrum and Base are also in intense competition. All this competition has weakened the "currency premium" that these cryptocurrencies were originally assigned.

Saylor believes that even the most steadfast supporters of these tokens are beginning to realize that they are not currencies and will not gain the premium associated with currency attributes; future value will depend on actual utility.

The past 12 months have been an extremely favorable period for Bitcoin, further solidifying its position as the dominant digital currency network. The market has established Bitcoin as "digital capital" and has proven that the concept of "digital credit" is viable.