The ETH Treasury Race Has Officially Begun | Sam Tabar, CEO of Bit Digital (2nd Largest)
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I remember having a private meeting with Michael Sailor last year or a year and a half ago. He probably won't be too happy about me submitting this and what was the content of the conversation. We were in the boardroom together, and he was telling me how Bitcoin mining was a shit business and that I should and that I should really I should really think about just being a Bitcoin treasury business. And I said, well, that's interesting. I kind of agree with you halfway, but I'm thinking about doing that. But for Ethereum, you gave me the dirtiest look. The conversation kinda died. It was a prett
Bankless Nation, we are here with Sam Tabar. He is the CEO of Bit Digital. Bit Digital is one of the ETH treasury companies that has recently come online and is already one of the largest ETH treasury companies among publicly traded companies. Sam, welcome to Bankless. Thanks
for having me. Sam,
why ETH? Look,
I don't think there is any second best when it comes to rewriting the financial system. Bitcoin doesn't have the ability of smart contracts to change value to exchange value without a middleman. And and there's a lot of reasons why Ethereum didn't really have its, you know, time. And it's sort of like sun in the day because there was a lot of the era of Gary Gensler. It was a really dark time for Ethereum. There are many developers, friends of mine who didn't you know, they were wondering if they were gonna go to jail the next day, if they were working on a project that Gary Gensler would purs
it's sort of funny, Sam. Actually, just on that really quickly, like, why do you think, Michael Saylor has never purchased Ether, the asset? Is that just part of the persona? Do you have to do that if you're Michael Saylor and you're pursuing this strategy? You have to be the biggest, baddest e Bitcoin maxi in town?
Listen. To be successful in anything in anything, whether it's working out or business or podcast, you have to be extreme. That's the formula. The formula of success is you have to just be kind of extreme. You have to, like, you have to be as as biggest and baddest and outspoken as possible. Grandinos.
Yeah.
And so I get that. That's what he's doing. He's he's just being a maxi maxi. You know, that's that's that's his that's the marketing campaign that he's doing. He can't be measured. If he's measured and if he's, you know, talking about, you know, the grays, the light grays and the dark grays, he's gonna just the marketing message will get lost. He's not talking to an academic audience. He's talking to a retail audience. And the retail audience is you have to remember this retail audience, they've been holding fiat as a way to basically build up their savings, let alone I'm not talking about sto
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