NYSE Chairman: Bitcoin and Cryptocurrencies Are Here to Stay
Jeff Sprecher, chairman of the New York Stock Exchange and CEO of its parent company, Intercontinental Exchange (ICE), believes that Bitcoin (BTC) and digital currencies, in general, are here to stay.
While speaking at the Consensus: Invest conference on Tuesday, Sprecher emphasized his belief that digital currencies will survive the now 11 month-old bear market.
“The unequivocal answer is yes,” Sprecher said when asked if cryptocurrencies will survive. “As an exchange operator, it’s not our objective to opine on prices.”
Elaborating further, Sprecher touched on the resilience of Bitcoin, which now holds a $74.5 billion market cap as the world’s largest digital currency.
“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.”
These comments come roughly a week after ICE’s crypto exchange venture, Bakkt, announced that it was pushing back the launch of its Bitcoin futures trading product from December 12 to January 24, 2019.
In explaining why the firm delayed the launch, Bakkt CEO Kelly Loeffler said, “To give it the best chance for success we pushed it back to the holidays to give people more time to get on board. It’s a positive indication of the interest and it gives people time to learn. We have a responsibility to do that so we’re taking that extra time.”
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.