Billionaire Bill Miller IV said that blockchains of evidence such as Ethereum and Solana should not “win in the end”, arguing that the design of Bitcoin proof gives sustainability that other networks cannot correspond.
In a July 28 interview With CNBC’s “closing bell”, the billionaire investor said that recent American policy movements could give assets evidence of proof, but not a lasting advantage over Bitcoin.
Miller assessed how market structure proposals define decentralization:
“If you look at the way in which legislation (the clarity law) has been written, it allows technologies like the blockchains of Ethereum and Solana to be classified as” decentralized “, while they are not.”
He added that if these chains launched today, “they would pass a very different process.”
His main objection is governance, describing proof of participation because anyone who has a great participation in the blockchain can “say what is happening”.
In the opinion of Miller, “this is exactly so that society works today, it is not really a technological revolution.” On the other hand, he called the consensus of the proof of bitcoin “a technology of writing the game”, arguing that the energy cost linked to the creation of new Bitcoins underpins the integrity of the network rather than strengthening the big holders of token.
Regulatory rally
Miller linked recent market gains in Ethereum to the Washington political calendar, pointing to the Signature of the act of engineering and the advance of the Clarity Act.
President Donald Trump signed the law on genius on July 18, creating the first federal framework for the stablecoins in dollars.
The house released it on July 17 after grouping proceededly with clarity and an anti-CBDC measurement the day before. The Senate then approved the consolidated version before the bill went to the White House.
While Clarity has evolved within the framework of this package to accelerate action on the ground, the text registered which ultimately became the law was the framework of genius stablecoin.
Miller’s point is that political momentum can note assets depending on proof of participation, but he doubts that he changes long -term race with Bitcoin. He added:
“People should start thinking what problems solve these different blockchains. And the answer is: most of them actually solve any real problem, except for Bitcoin.”
Resolve responsibility
He supervised Bitcoin as a solution to monetary responsibility, mentioning his large transparent and immutable book as a means of auditing “who owns what” and where the funds flow.
Other channels, in his opinion, do not solve an additional problem that Bitcoin has not already addressed, and they do not have its liquidity and its first -rate dynamics.
This thesis extends to business balance sheets:
“It is my point of view that in 20 or 30 years, each company will be a Bitcoin cash flow company.”
In addition, the billionaire predicted that bond managers buying “bits regulated by Bitcoin” and action managers adding Bitcoin exposures will overcome peers that do not.
Miller concluded that he “remains to be seen” if the technology of proof of evidence can offer a lasting advantage.
