Billionaire Bill Miller IV says it is unlikely that it is unlikely that block chains such as Ethereum and Solana ‘win’ at the end of the day, with the argument that Bitcoin’s proof -van -work design provides sustainability that other networks cannot match.
In one July 28 Interview With CNBC’s “closing bell”, the billionaire investor said that recent American policy movements can give a proof -in -stake -activa a short -term boost, but not a permanent lead over Bitcoin.
Miller assessed how market structure proposals define decentralization:
‘If you look at the way the legislation [the CLARITY Act] Was written, it may make technologies such as Ethereum and Solana Blockchains classified as ‘decentralized’, when they are actually not. ”
He added that if those chains are launched today, “they would go through a much different process.”
His core objection is governance, describing a proof of interest as the one who has a great importance in the blockchain, can say what happens. ”
According to Miller: “That is exactly how society works today, it is not really a technological revolution.” On the other hand, he called Bitcoin’s proof work -work -work ‘a game -changing technology’, with the argument that the energy costs that are linked to creating new Bitcoin supply network integrity instead of anchoring large token holders.
Rally
Miller linked the recent market profits in Ethereum to the Washington policy calendar, pointing to the Signing the genius action And the rise of the Clarity Act.
President Donald Trump signed the genius law on July 18 and created the first federal framework for dollar -backed stablecoins.
The house knew it on July 17th Procedural bundling with clarity And an anti -CBDC measures the previous day. The Senate then approved the consolidated version before the bill went to the White House.
While clarity was moving as part of that package to speed up the floor action, it was to switch on that ultimately became the brilliant Stablecoin framework.
Miller’s point is that policy momentum can eliminate assets based on evidence is important, but he doubts whether it changes the long run race with Bitcoin. He added:
“People have to start thinking about what problems these different block chains solve. And the answer is: most of them actually do not solve real problems, except Bitcoin.”
Solve account
He formed Bitcoin as a solution for monetary accountability, and called it transparent and unchanging ledger as a way to check “who possesses what” and where funds flow.
According to him, other chains does not solve any extra problem that Bitcoin has not yet tackled, and they miss the liquidity and momentum of the first.
That thesis extends to recovering the company balance:
“I am that in 20 or 30 years, every company will be a Bitcoin Treasury company.”
Moreover, the billionaire predicted that bond managers who buy “Bitcoin -regulated bonds” and share managers who add Bitcoin -bound exposures will perform better than colleagues who don’t.
Miller concluded that it can “see” or proof-of-stake technology a lasting benefit.