JHL, a former Google engineer and member of the Serum decentralized exchange team, believes that Bitcoin will always remain the most suitable coin for fast and cheap transactions.
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interview with Kitco News anchor David Lin at DCentral Miami, JHL discussed the usefulness of bitcoin with him. When asked “What can replace bitcoin as a store of value,” the former Google engineer replied that there are many other cryptoassets and projects that can be used more useful than the first cryptocurrency. This prompted a counter question, whether bitcoin has intrinsic value, and whether its rate could collapse to zero.
“There are things that appeared long before Bitcoin, and the same can be said about them. For example, gold, which still has a good market value. Therefore, the price of bitcoin is unlikely to become zero, ”JHL said.
Bitcoin will always be the most suitable crypto asset for fast and economical transactions, JHL added. He explained that whichever blockchain or group of blockchains wins the race, they will somehow interact with Bitcoin. Given the rate at which BTC is being adopted by the world’s population, any network will strive to launch a “bridge” to move crypto assets between its blockchain and Bitcoin. The engineer also drew attention to the Uniswap and SushiSwap protocols, saying they have great potential.
However, Galaxy Digital CEO Michael Novogratz takes a different view of bitcoin, believing that it cannot be called a currency for transactions, as it is more suitable for long-term investments. Tesla CEO Elon Musk agrees with him, saying that DOGE has an advantage over BTC for payments, even being created as a crypto-meme.
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