Cory Klippsten, the CEO of Swan Bitcoin, believes that Bitcoin is not like the remainder of crypto.
Cory Klippsten, CEO at Swan Bitcoin and Partner at Bitcoiner Ventures, revealed in a recent interview that he believes Bitcoin is unlike the other cryptocurrencies. When requested about his ideas on Bitcoin and whether or not it is a Ponzi scheme, Klippsten stated;
“Why is Bitcoin not a Ponzi scheme? The big difference is that there is no entity or group of people that control Bitcoin who are marketing Bitcoin to be able to dump it. If anything, most Bitcoiners that promote Bitcoin are just buying and holding as much as possible — and people who love it the most are the people who never sell.”
The Swan Bitcoin CEO stated he is bettering his media presence to make sure that extra persons are not victims of occasions like the Terra crash and the Celsius liquidation. Klippsten stated;
“When I’m on the market speaking to media, actually, I feel the primary message that I attempt to get throughout is that Bitcoin is not a part of the crypto business. There’s Bitcoin, and there’s other issues that decision themselves crypto.
It’s in the curiosity of crypto individuals to attempt to put Bitcoin beneath that umbrella. And it’s clearly in the pursuits of Bitcoiners in Bitcoin corporations to separate Bitcoin from crypto. So that’s the message that I attempt to convey very clearly with each considered one of these shops.
The distinction between Bitcoin and other crypto belongings is one thing that crypto publications perceive, however the mainstream press? They’re blown away — they thought all crypto persons are principally crypto bros making an attempt to grift.”
The collapse of Terra’s UST stablecoin shed one other unhealthy mild on algorithmic stablecoins. Klippsten stated it is very laborious for a decentralised algorithmic stablecoin to keep up its peg in opposition to the US Dollars. He stated;
“Well, there are two completely different stablecoins: collateralised and uncollateralised. You can’t have a decentralised, algorithmic stablecoin keep a peg. You have to have a centralised workforce conducting market operations, else you’ll simply not have the ability to keep the peg in occasions of stress.
This is one thing the Basis workforce found in 2018 ⏤ , and so they had been method smarter than Do Kwon or anyone else like at Tron or no matter engaged on stablecoins as we speak. Basis realised that this stablecoin factor couldn’t be something other than a safety. So they determined to refund the buyers’ cash.”
Bitcoin is buying and selling above $23k after performing properly over the previous few weeks.
