While it might not have the best technology of all cryptocurrencies, bitcoin will still likely emerge as the yardstick by which all others are measured, Sprecher said.
"Somehow bitcoin has lived in a swamp and survived," Sprecher said. "There are thousands of other tokens that you could argue are better but yet bitcoin continues to survive, thrive and attract attention."
Sprecher, who is married to Loeffler, likened it to the Dow Jones Industrial Average. The "Dow" as it's known, is an index of 30 stocks that is price-weighted, meaning it gives higher-priced stocks more influence but doesn't take into account the industry size or market cap.
"The Dow has been around for decades. It's a terrible index. We could come up with an index that's more representative of our economy but somehow that index will not go away," Sprecher said.
Dow critics say it's not an accurate representation of market performance. Yet, it's the most widely used barometer. Similarly bitcoin has flaws, but Sprecher said it's still likely to be the go-to cryptocurrency.
"Often times in finance, it's not about being the best — it turns out to be about being the broadest and the most commonly accepted and for whatever reason bitcoin has become that."
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