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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

NYSE Chairman Gives His Point of View on Bitcoin and Blockchain

Yashu Gola
Yashu Gola
4 years ago
2 mins read

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NYSE Chairman Jeffrey Sprecher recently appeared on CNBC’s “Power Lunch” where he briefly expressed his views on the digital currency Bitcoin, and its underlying technology Blockchain.

NYSE Floor BW

The Wall Street veteran said that the millennials trust Bitcoin more than they trust the government-backed fiat currencies, and further acknowledged its potential to be a game-changer. By making references to other progressive software applications, Sprecher stated:

“Young people, Millennials, trust their app and how many stars you give a driver, more than they trust the New York Taxi Department who vets and gives a medallion to a taxi driver. And in the same way, we are seeing Millennials trust a currency that is really created in the ether more than they trust fiat currency by a government.”

The comments arrived weeks after NYSE’s announcement to launch its very own Bitcoin Index — the NYXBT. Prior to that, the American stock exchange, which is also backed by Sprecher’s very own Intercontinental Exchange, had also announced to invest a huge sum into the Californian Bitcoin startup Coinbase.

The chairman recognized his fantasy towards a disruptive payment technology like Bitcoin, saying that their organization is working on it “for over a year to understand it.” He also noted that their layman style has made it difficult for them to crack such an advanced language.

“I think there is something to it,” Sprecher switched to Ben Stiller mode (arguably). “I think there is something here.”

As Bitcoin has left its speculative phase, we can hardly see anything dramatic coming out of Sprecher’s comments on Bitcoin. But indeed, the words clearly demonstrate the vanishing distance between the traditional and futuristic payment markets. It will undoubtedly assist Bitcoin in gaining more attention among institutional investors and traders around the globe.

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Yashu Gola
Yashu Gola

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN.

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Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.

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Comments 1

  1. ozlanthos says:
    10 years ago

    . “And in the same way, we are seeing Millennials trust a currency that is really created in the ether more than they trust fiat currency by a government.” Hey bungus, do you want to know why that is? It’s because the Federal Reserve prints “FRNs” out of ether too. The difference is that Bitcoin doesn’t come from the ether, it comes from mining, AND I can check the blockchain and verify a number of factoids that I cannot find out about the Federal Reserve Note. Factoids such as how many Bitcoin have been mined, when the next block should confirm, and whether or not my transaction cleared. In this way, Bitcoin is an ASSET, and the FRN is a DEBT VEHICLE… Learn the difference and you’ll understand why we are so quick to try and shed The Fed’s shitcoin.

    -Oz

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Comments 1

  1. ozlanthos says:
    10 years ago

    . “And in the same way, we are seeing Millennials trust a currency that is really created in the ether more than they trust fiat currency by a government.” Hey bungus, do you want to know why that is? It’s because the Federal Reserve prints “FRNs” out of ether too. The difference is that Bitcoin doesn’t come from the ether, it comes from mining, AND I can check the blockchain and verify a number of factoids that I cannot find out about the Federal Reserve Note. Factoids such as how many Bitcoin have been mined, when the next block should confirm, and whether or not my transaction cleared. In this way, Bitcoin is an ASSET, and the FRN is a DEBT VEHICLE… Learn the difference and you’ll understand why we are so quick to try and shed The Fed’s shitcoin.

    -Oz

    Reply

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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