By Nermeen Nabil Khear 
A technology investor who backed ride-hailing app Uber in its early days has stirred up the crypto community after claiming that the OG cryptocurrency Bitcoin (BTC) will ultimately be replaced by a better digital asset.
Jason Calacanis, however, ruled out the possibility of Ripple-affiliated cryptocurrency XRP being Bitcoin’s replacement, claiming that it is controlled by just “a few individuals.”
XRP Is Centralized
Prominent angel investor Jason Calacanis previously contended that XRP was a “centrally controlled security,” unlike Bitcoin. At the time, Calacanis forecasted that there would be “chaos” if the U.S. Securities and Exchange Commission approved spot XRP exchange-traded funds (ETFs).
Calacanis also postulated earlier that XRP was a “disaster” that was “clearly going to zero.”
Calacanis has doubled down on his criticism of the fourth-largest cryptocurrency. In a recent post on the X social media platform, he described XRP as “centralized and controlled by a few individuals.”
Will Bitcoin Be Inevitably Replaced?
Despite being a long-time Bitcoin proponent, Jason Calacanis also thinks the top cryptocurrency is bound to eventually lose its crown, with another digital asset emerging on top of the Bitcoin network.
“Bitcoin has been a wonderful game, but with a couple of giant players cornering the market, the timing is right to “build a better Bitcoin” — restarting the game,” prominent angel investor and internet entrepreneur Jason Calacanis told his 982K X followers.
Calacanis, an early investor in Bitcoin-related companies like Robinhood and Keza, stated that “all technology gets replaced over time… and Bitcoin will be no different.”
Bitcoin proponents and founders of Bitcoin-related companies were quick to fire back at Calacanis’ comments.
“There’s no better Bitcoin. Bitcoin is the immaculate conception, the Big Bang of digital assets. It cannot be recreated. What it lacks in functionality can be built on L2s,” Lightspark CEO David Markus posited. “Trying to build a better Bitcoin is a fool’s errand.”
Meanwhile, Swan Bitcoin co-founder Brady Swenson stressed that “winning protocols don’t get replaced; they are built upon.”
“Bitcoin will never be replaced as a protocol for value transfer. The race is still on for the winning second layer protocol,” Swenson added.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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