Billionaire Bill Miller IV says that blockchains with proofs like Ethereum and Solana are unlikely to “win at the end of the day.”
in July 28th Interview With CNBC’s “closing bell,” billionaires said recent US policy moves may boost financial assets in the short term, but they are not a more permanent edge than Bitcoin.
Miller evaluated how market structure proposals define decentralization.
“Looking at the way the law (clear acts) are written, we can classify technologies such as Ethereum and Solana blockchain as “decentralised” when they are not. ”
He added that if these chains were launched today, “they would go through a rather different process.”
His core objection is governance, explaining evidence of interest as someone with a major interest in blockchain “says what happens.”
In Miller’s view, “That’s exactly how society works today, and it’s not really a technological revolution.” In contrast, he calls the Bitcoin Proof of Work Consensus “game-changing Technology,” arguing that, rather than entrenching large token holders, the energy costs associated with the creation of new Bitcoins support network integrity.
Regulation-led gatherings
Miller links Ethereum’s recent market profits to Washington’s policy calendar; Signature of a genius act And clear legal advances.
President Donald Trump signed the Genius Act on July 18th, creating a ridiculous, ridiculous framework that was snatched into the dollar.
The house cleaned it on July 17th Clearly procedurally bundled And anti-CBDC is measured the day before. The Senate then approved the unified version of the bill before it went to the White House.
Clarity moved to speed up floor action as part of its package, but the registerable text that eventually became law was a genius Stablecoin framework.
Miller’s point is that policy momentum can raise assets based on proof of interest, but he doubts it will change Bitcoin and long-term race. He added:
“People need to start thinking about what problems these different blockchains will solve. And the answer is: Most of them don’t actually solve real problems other than Bitcoin.”
Accountability resolution
He framed Bitcoin as a solution to financial accountability, referring to its transparent, immutable ledger as “who owns what” and where the funds flow.
In his view, other chains should not resolve additional issues that Bitcoin has yet to address.
The paper extends to the company’s balance sheet:
“I think in 20 or 30 years, all companies will become Bitcoin finance companies.”
Additionally, the billionaires predicted that bond managers who purchase “Bitcoin regulated bonds” and equity managers who add Bitcoin link exposures would be better than non-peers.
Miller concluded that it “cannot be seen” whether proof technology can provide lasting benefits.