Brad Garlinghouse accused bitcoin maximalists of holding back the industry

Bitcoin maximalists and proponents of certain crypto assets are hindering the development of the industry. This opinion was expressed by the head of the blockchain company Ripple Brad Garlinghouse. CNBC.

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

“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,” said the head of Ripple.

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

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Notable bitcoin maximalists include Twitter co-founder Jack Dorsey and MicroStrategy CEO Michael Saylor. In April 2022, the latter stated that his company will continue to follow strategies for buying and storing digital gold.

Another entrepreneur – Elon Musk – actively supports dogecoin. In May 2021, he stated that meme-cryptocurrency could “easily” win against bitcoin under certain conditions.

According to Garlinghouse, adherents of one asset create a division in the community, especially when it comes to lobbying the interests of the industry in Washington.

Recall that in the fall of 2021, the founder of the BlockTower Capital crypto fund, Ari Paul noticed that Ethereum supporters in their criticism of Solana find themselves in the position of the bitcoin community in its disputes with opponents of digital assets.