ALGO becomes the “Google” of cryptocurrency
SkyBridge Capital founder Anthony Scaramucci says that Algorand (ALGO) will challenge the top contenders in the crypto industry just like Google did in the early days of the internet.
In a new interview with Digital Asset News, Scaramucci said he’s investing heavily in ALGO because he believes it will edge out many of its peers.
“I currently have $250 million invested in ALGO. I think Algorand will become Google.
You and I, when we were kids, used AltaVista to log onto the internet. We use Lycos, America Online – even Prodigy if you can remember. In 1998 the company was called Google and people said, “Why do I need this? I have all the other tools to get on the internet,” and then people say, “You know it’s faster. It has machine learning, more common algorithms. It gives better results. So Google won people over, and I think that’s what’s going to happen with Algorand.”
Algorand is a PoS blockchain that allows developers to build decentralized applications (dApps) for financial services. This smart contract platform challenges even Ethereum and aims to accelerate transactions with lower costs.
“I think when the big companies get into the tokenization side of the market and start working in the DeFi world, they will need something as scalable, secure and decentralized as Algorand. So they don’t have to worry about inflation – the unpredictable deflation of the methods they use to exchange value.
For me, Algorand is the future. More and more people will study it deeply and decide to choose it.”
In an interview in CNBC’s mid-term report in December, Scaramucci said that Algorand has the potential to overthrow Ethereum, today’s leading smart contract platform.
At the time of writing, ALGO is trading at $1.39.
Source: Trade View
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