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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 mentioned;

“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 mentioned he is bettering his media presence to make sure that extra individuals are not victims of occasions like the Terra crash and the Celsius liquidation. Klippsten mentioned;

“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 underneath 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 one among these retailers.

The distinction between Bitcoin and other crypto property is one thing that crypto publications perceive, however the mainstream press? They’re blown away — they thought all crypto individuals are principally crypto bros attempting to grift.”

The collapse of Terra’s UST stablecoin shed one other dangerous gentle on algorithmic stablecoins. Klippsten mentioned it is very arduous for a decentralised algorithmic stablecoin to take care of its peg in opposition to the US Dollars. He mentioned;

“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 group conducting market operations, else you’ll simply not be capable of keep the peg in instances of stress.

This is one thing the Basis group found in 2018 ⏤ , they usually have been approach 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.