Bitcoin rose to prominence as a virtual currency, but its underlying technology will quietly alter industries from finance to advertising and ultimately win over consumers, the CEO of bitcoin startup 21 Inc. said Wednesday.

In an interview at the WSJDLive global technology conference, Balaji Srinivasan said bitcoin’s path could mirror that of the open-source software Linux, which isn't well-known by consumers but underpins the Android mobile-operating system and other key pieces of technology.

“What...