Intercom Co-founder Says He’s Jumped On Bitcoin Bandwagon After Years Of Staying On The Sidelines

497
Intercom Co-founder Says He’s Jumped On Bitcoin Bandwagon After Years Of Staying On The Sidelines
Advertisement
   

Eoghan McCabe, the co-founder and chairman of United States-based software company Intercom has revealed in a tweet today that he has fully embraced bitcoin after “years of dabbling”. McCabe then urged others to follow his lead.

However, the executive is not convinced that bitcoin is a good fit for his company as of now.

Eoghan McCabe Embraces Bitcoin

Paul Tudor Jones, MicroStrategy CEO Michael Saylor, and Stanley Druckenmiller have made waves this year after putting their weight behind bitcoin. Eoghan McCabe has become the latest prominent-name bitcoin convert.

The Intercom co-founder did not reveal what exactly drove him to the flagship cryptocurrency, though he noted that he had listened to the podcast interview between Anthony Pompliano (aka Pomp) and the CEO of Parallax Digital Robert Breedlove which he had found to be “fun and compelling”.

McCabe has also not disclosed how much bitcoin he may have purchased. He, however, suggested that bitcoin investors should hodl.

Advertisement
   

Intercom Is Not Adopting Bitcoin Just Yet

Considering the spectacular rally past $16,000 that bitcoin has posted, it’s not surprising that more big-names are jumping on the asset’s bandwagon.

Publicly listed companies like Square, MicroStrategy, and Stone Ridge have converted a portion of their excess cash reserves into bitcoin in the face of dollar devaluation. With a hard-capped supply of 21 million, the bellwether cryptocurrency is becoming particularly attractive as a hedge against inflation, which is inevitable due to the unprecedented money printing.

Nonetheless, McCabe has pointed out that Intercom will not be adopting bitcoin as its primary treasury reserve asset just yet. He explained that there is a huge time gap between when the founder of a company believes something is a good idea and when the company takes any action.

To quote him directly:

“Unfortunately the laws of physics of big companies state that there are years between the point a founder thinks something is a good idea and his company acts on said idea. But I also think Bitcoin is not a fit for us just yet.”


Get Daily Crypto News On Facebook | Twitter | Telegram | Instagram


DISCLAIMER Read More

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.