MySpace CEO, Michael Jones, spoke about Bitcoin and it being the first cryptocurrency. In the podcast interview by Anthony Pompliano, he also explained how upcoming cryptocurrencies are being overlooked.
Michale Jones talked about his experience, saying that Bitcoin is like a famous product. He said that in the broad-based global consumer world, the best product does not always win. He added that most people around the world only know about Bitcoin and that it is a mass recognized brand for the crypto-world.
Jones said that even if there was a faster transit mechanism and better features, people would always choose Bitcoin. He went on to say that the brand for Bitcoin holds more value than it is currently being given and it might prove to have a long-lasting power. He stated:
“But for the general person, if they’re going to enter into crypto, I still think they’re probably going to enter into bitcoin and if a normal place is going to accept a payment system in crypto, they’re probably going to start with Bitcoin and it doesn’t mean that bitcoin’s the best.”
Michael Jones also spoke about how Bitcoin poses a challenge for the upcoming cryptocurrencies which plan to unseat Bitcoin. He explained how materials like Titanium which are more expensive than gold are not being used as the standard or the default standard of trade.
He explained that it is the same with Bitcoin, and other digital currencies that plan to unseat Bitcoin. According to him, the cryptocurrencies would have a hard time because it has already become a brand that resonates with the people and also provides a good store of value. He explained that people in Venezuela or China prefer to store their currency in Bitcoin rather than traditional money as they are facing substantial restrictions from their government.
The post Bitcoin [BTC] is a mass recognized brand for the crypto-world says MySpace CEO appeared first on AMBCrypto.