In an interview with CNBC, Ripple CEO Brad Garlinghouse said that bitcoin-maximalism is a serious obstacle to the development of the cryptocurrency industry.
Garlinghouse believes that more than one cryptocurrency can succeed, so there is no room for tribalism in the industry.
He opined that many companies managed to thrive simultaneously during the dot-com mania of the late 1990s because they were working to solve different problems.
“I have bitcoin, I have Ethereum, I have something else. Yahoo may be as successful as eBay. But they solve different problems. There are different uses, markets and audiences,” he noted.
The entrepreneur is also particularly concerned about the lack of coordination among cryptocurrency industry leaders on the regulatory front in Washington. Garlinghaus called this lack of cooperation shocking.
Despite his opposition to tribalism, Garlinghaus has spoken out against worthless cryptocurrency projects in the past. He has previously suggested that 99% of cryptocurrencies will eventually disappear because there is no value in them.