Jack Mallers, CEO of Bitcoin company Strike, shared his views on Bitcoin and other cryptocurrencies in a recent statement.
Mallers, a self-proclaimed Bitcoiner, expressed his belief that cryptocurrencies are a diversion from Bitcoin's true potential.
“I think crypto is a pile of garbage. Crypto is often a distraction from what this technology and this movement represents and is coming to change,” Mallers said. He also questioned the legitimacy of cryptocurrencies such as Ethereum, created by Vitalik Buterin.
Despite the growing popularity of altcoins, Mallers remains uninterested:
“Everyone knows that Bitcoin has regulatory clarity, that Bitcoin is now officially on Wall Street, that Bitcoin is mainstream. Bitcoin works. BTC's monetary policy has not changed at all. That's why I'm here. “I am here to change the world through Bitcoin and push Bitcoin as far as we can as humanity and society.”
Mallers also expressed doubts about the future of altcoins, saying, “I don't think they will be around when I die.” Questioning the social value of cryptocurrencies such as Dogecoin and Ethereum, Mallers described Ethereum as a “technology game” and a “gamble”.
Mallers criticized Ethereum's past security problems and changes in monetary policy, saying, “I was around when Ethereum was hacked and the Ethereum Foundation filtered transactions. They were saying, 'We broke something, so that transaction is not available.' They were saying, we will change the monetary policy now.”
In conclusion, Mallers reiterated his belief that Bitcoin is the only innovation that can solve the biggest financial problem ever: central banking. “No, I don't think it's Solana, Ethereum, Dogecoin. No, I don't think it matters at all,” he said, rejecting the idea of Ethereum or any other altcoin becoming a new world reserve currency.
*This is not investment advice.
