Calacanis Calls Bitcoin 'CD in Age of Spotify' Amid Institutional Adoption
Jason Calacanis, a venture capitalist, has questioned Bitcoin's relevance as institutional adoption grows. He compared it to outdated media formats, saying it is 'the CD in the age of Spotify' and 'the DVD in the age of Netflix.'
Bitcoin celebrated its 17th anniversary this week, sparking debate about whether its longevity is a liability rather than an asset. Calacanis argued that Bitcoin no longer holds the position of the most sophisticated blockchain in areas such as payments, smart contracts, or applications.
The network's persistence, according to him, is tied more to nostalgia and supporter loyalty than cutting-edge technology. He pointed out that newer blockchains offer enhanced features and greater flexibility, while Bitcoin remains rooted in a relatively simple design.