Barry Silbert, founder and chief executive officer of venture capital Digital Currency Group, said he is bullish on Bitcoin (BTC) as an investment vehicle, CNBC reported July 18.
Speaking at the Providing Alpha Conference in New York on Wednesday, Silbert said,
“I think we probably got to the base by the year. I basically put some funds in bitcoin the previous week.As an asset course, it’s right here to continue to be … I’m 100% assured that a decentralized and non-fiduciary dollar type is here to continue to be.”
Jeremy Allaire from cryptocurrency startup Circle, which is backed by Goldman Sachs and Baidu, also addressed the conference. Allaire said that blockchain will form the basis of new technological innovations.
“This is a new infrastructure layer of the internet. It is going to replace what operating systems do. It is the future of the internet … This just isn’t about digital gold.”
The price of bitcoin is currently trading at $7,380 Wednesday, down nearly 60 percent in value since it rose above $19,000 in mid-December.
Silbert is the founder and CEO of Electronic Forex Team. The company invests in the bitcoin and blockchain market, supporting more than 120 providers in the 30 countries, which include Coinbase, Ripple, BitPay and Circle
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