Amid a bear market that is affecting the whole cryptocurrency market, Riccardo Spagni, Monero’s leader and developer, showed that he is very positive about Bitcoin (BTC) and its future.

During a conversation on the Magical Crypto Friends show, he said that there is an increased criticism being made to the Bitcoin community. At the same time, he said that there are more issues arising among the BTC community.

About Bitcoin’s success in the market, he said that there is a lot of money that has been deposited into Bitcoin for it to fail. Nevertheless, he said that there is a remote but possible chance for Bitcoin to fail. For him, other virtual currencies have higher chances to fail.

On the matter, he commented:

“I think that there is too much brain power, research, adoption and money that has been poured into Bitcoin for it to fail. I truly believe that. Obviously, there’s always a chance but I think that the chances a Bitcoin failing are at this point infinitesimally small I think the chances of every other altcoin failing are higher.”

After this, he mentioned that he does not believe in a world in which every single individual would be using Bitcoin. This is a big difference with Bitcoin maximalists that are working for Bitcoin to be the only currency in the world replacing fiat money.

Spagni says that it can happen but the chances for it to occur are very low. Humans are not going to globally adopt Bitcoin as a cryptocurrency. There are other projects that can also compete with Bitcoin and take an important part of the market.

Monero is currently a top 10 cryptocurrency that can be purchased for $88 dollars. It has a market capitalization of $1.47 dollars.

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