Intercom Founder ‘Firmly’ Jumps on the Bitcoin Bandwagon; But BTC Is Not A ‘Fit’ for the Company
Bitcoin continues to rule the market and attract the masses.
The latest one is Eoghan McCabe, the Chairman, and co-founder of the software company Intercom.
McCabe took to Twitter to share that he has finally taken a deep dive into the world of Bitcoin.
“I would like to announce that after years of dabbling I’ve jumped firmly onto the Bitcoin wagon and would now like everyone else to do the same,” he wrote on Twitter, adding, “Please hodl.”
While his non-twitter friends kept on pushing him to get into BTC, this is the time he thinks when the leading digital currency goes mainstream.
“I just kept seeing and hearing anecdotes of its use as a currency and store of value, and then recent institutional engagement started to make me feel like it was going mainstream,” he explained the reason behind his strong shift to BTC.
— Mike Novogratz (@novogratz) November 16, 2020
McCabe further shared that it was Morgan Creek Digital co-founder Anthony Pomliano’s podcast with Robert Breedlove, the founder, and CEO of Parallax Digital, that a “cryptolaggard” like him found “compelling.”
Breedlove actually wrote an open letter to the founder of the world's biggest hedge fund Ray Dalio, who, although he agrees with Bitcoiners assessment on the macroeconomy, is missing the importance and ultimate success of Bitcoin.
In a recent interview, Dalio said one of the points not working in bitcoin’s favor is that the government would outlaw it, which Twitter CEO and BTC proponent Jack Dorsey doesn't agree with.
While McCabe has found love for Bitcoin, his company isn’t ready to take that step yet. As one crypto enthusiast called him out to now convert the company's cash balance into Bitcoin, a move first started by MicroStrategy and then Square, McCabe replied with “baby steps.”
As for Intercom to start accepting BTC, “Bitcoin is not a fit for us just yet,” he said.
“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,” he added.