Ripple CEO Accuses Bitcoin Maximalists of Holding Back the Industry

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Brad Garlinghouse, head of the blockchain company Ripple, has said that Bitcoin maximalists and proponents of certain crypto assets are hindering the development of the industry, CNBC reports.

According to him, tribalism around digital gold is holding back the growth of the entire market. As a former head of Yahoo, Garlinghouse has compared the industry to the dot-com era in the early 2000s. He has said:

“I have Bitcoin, Ethereum, I have something else. Yahoo can be as successful as eBay. But they solve different problems. There are different use cases, markets and audiences.”

He has admitted that many of these parallels exist in the cryptocurrency industry as well.

Notable Bitcoin maximalists include Twitter co-founder Jack Dorsey and MicroStrategy CEO Michael Saylor. In April 2022, the latter stated his company would continue to pursue a strategy to buy and hold digital gold.