Founder & CEO, Digital Currency Group is Barry Silbert talked with Yahoo Finance about the recent growth of Bitcoin. He also reflect on what has changed in the space over the last year. In addition, said whether in the future some leading currency, or one of them will take the full brunt.
As for the price jump, Silbert sees a very positive current sentiment in the market and excellent technical performance. He did not attach much importance to a protracted bear market, and argues that after a strong collapse of the coin every time it showed a new historical maximum. In the current growth and surge in 2017 there is a fundamental difference.
This time the industry is able to boast of solutions for storage, lots of software, as well as higher kompleksom. Now people are well aware of this asset class. So this time it will be a little different.
He also shared the progress of their company — 90 percent of the funds in the first quarter of 2019 came from institutional investors. With 90 percent of that money went just to the Bitcoin Foundation.
It should be noted that the main demand now comes from institucionales and usually all they are interested in Bitcoin. I think 2018 was designed to get rid of fraudulent ICO.
According to Silbert, almost all investments in the past hype went either into the pockets of crooks, or not unstable projects, which are subsequently lost it all by selling bitcoins.
Whether in the future the dominant cryptocurrency?
According to CEO of Digital Currency Group, in the space secured a few high-end coins, as they have different purposes. Bitcoin will take over the role of digital gold, zcash for Horizen and come forward in the areas of confidentiality and Ethereum Classic will serve smart contracts. In cryptodata of hontarov there are still a lot of other useful information, go.
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