Bitcoin maximalists and advocates of certain cryptoassets hinder the development of the industry. This view was voiced by Brad Garlinghouse, chairman of blockchain company Ripple, according to CNBC.

According to that, tribalism hindering the growth of the entire market around digital gold. Garlinghouse, a former head of Yahoo, compared the industry to the dot-com era of the early 2000s.

“I have Bitcoin, I have 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 Ripple president.

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

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 pursue a strategy for buying and holding digital gold.

Another entrepreneur, Elon Musk, is an active supporter of Dogecoin. In May 2021, he stated that the meme-cryptocurrency could “easily” outperform Bitcoin under certain conditions.

According to Garlinghouse, proponents of an entity create a division in society, especially when it comes to lobbying for the industry’s interests in Washington.

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