Bitcoin Still Accounts For 90% Of ShapeShift CEO Erik Voorhees’s Crypto Holdings

Bitcoin Still Accounts For 90% Of ShapeShift CEO Erik Voorhees’s Crypto Holdings

Although he was one of the earliest advocates of Bitcoin, ShapeShift CEO Erik Voorhees has slowly become a somewhat controversial individual among Bitcoin advocates. Over the past couple of years, the longtime Bitcoin entrepreneur has faced backlash from hardcore Bitcoin maximalists for his support of altcoins via the ShapeShift exchange and his advocacy for the failed attempt to hard fork Bitcoin via the controversial SegWit2x plan.

In a recent interview on What Bitcoin Did, Voorhees was asked about his current views on Bitcoin by host Peter McCormack. In his response, Voorhees noted that bitcoin still accounts for around 90 percent of his personal crypto asset holdings.

“I always laugh a little bit when people think that I’ve built ShapeShift and I shill shitcoins because I profit from the shitcoins,” said Voorhees. “I profit when bitcoin goes up vastly more than anything that could happen on any altcoin. The degree to which I am exposed to bitcoin is so much stronger.”

Bitcoin is Still the Center of the Industry

Voorhees added that bitcoin is still his favorite crypto asset and “by far” the center of the industry.

“It is the most conservative and safest cryptocurrency out there, and I think it has a huge and massive future in it,” said Voorhees.

This does not mean that Voorhees is dismissive of the rest of the crypto asset market. In his view, there are a lot of other amazing projects out there, and these projects strengthen bitcoin rather than weaken it.

“I think bitcoin is strengthened by its interaction with these other blockchains, not harmed,” explained Voorhees. “And I am so confident in bitcoin — I think that is what helps allow me to be interested in other cryptos as well because I don’t have this insecurity that they will replace bitcoin.”

Voorhees added that it would not be the end of the world if another crypto asset were to replace bitcoin as the top dog on the market because the spirit of bitcoin would continue to live on in any dominant cryptocurrency.

“I think there will be a lot of successful projects, not just one,” added Voorhees.

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