Wall Street Trader says Bitcoin is the Best Bet for Crypto Investors

Chirayu Choubisa

Chirayu Choubisa

July 11, 2018 11:52 am

Bitcoin News

Wall Street Trader says Bitcoin is the Best Bet for Crypto Investors | Coindelite News
3919 Total Views


Mr. Bart Smith told CNBC, Bitcoin is still the best bet for cryptocurrency investors as people are functionally using it.

Bart Smith, head of digital assets at trading giant Susquehanna International Group, spoke on “Fast Money” Tuesday, “If you want to own the asset that you can use today and that people are functionally using, it’s bitcoin.”

He continued:

“The use case for bitcoin is valid today, which is the currency of the internet.”

Bitcoin, the largest digital currency by market cap, has been just one of many digital coins in the cryptocurrency universe that has under increased scrutiny in recent months as regulators try to determine how cryptocurrency should be used.

However, the way Bitcoin has established use cases is what provides it the competitive advantage over other digital currencies, Bart Smith said.

Last fall, when bitcoin prospects were declared, he stated:

“People got very excited about bitcoin. They got excited about all these other tokens and used cases. And all of the sudden you noticed all of these smaller tokens, as people got excited about them, massively outperform. We got way forward of ourselves.”

Bart Smith stated:

“If you’re looking at these other use cases, smart contracts, or lightning network or these different technological advancements, I think people are coming to understand, those things are complicated and aren’t coming anytime soon.”

He pointed out that many people work in one nation and send money back to a different country a situation that is very bitcoin-friendly.

He Included:

“They use Western Union, traditional banks; It is slow, and it is expensive. And some people can stop you from sending that money, whether that’s good or bad. With bitcoin, I can send money. It’s fast. It’s cheap. And frankly, no one can stop me.”

No Comments
Costa Rican Employees are Getting Paid Legally in Bitcoin

Costa Rica which is located in Central America and ranked as one of the most visited international destinations is now open to Cryptocurrencies like Bitcoin. Costa Rican Employees has grabbed an opportunity to get paid Legally in Bitcoin. The national legislation specific provisions allow companies to pay their workers including …

Facebook Allows Cryptocurrency Ads for Coinbase

A few months back, several technology giants decided collectively to ban crypto-related ads. The list included Facebook, Twitter, Microsoft, and Google. The move was enforced as a means to curb scams and illegal activities that were conducted through the platform. After imposing a ban on cryptocurrency ads, Facebook has allowed …

An Expert says XRP is Not a Real Cryptocurrency

The cryptocurrency industry still faces arguments over XRP whether it is a security and it has remained as a famous debate. But, now an expert said XRP is not even a “real cryptocurrency,” and SEC will be issuing its official statement whether it considers XRP as security. We recently published …

Supreme Court of India Postpones Crypto Banking Ban to September

Indian Supreme Court has decided to postpone the case on Banning the cryptocurrency firms from receiving banking services that are appealed by Reserve Bank of India’s (RBI) The local news channel Inc42 has published a report saying that decision on the ban has been postponed to September 2011. The board of judges …

CBS’s Showtime is Mining Cryptocurrency using Visitors’ CPU Power

An increasing number of websites have been found secretly mining cryptocurrency. Earlier this week, Change.org launched a screensaver that mined Monero when the user’s PC is inactive. This is a great way for websites to generate revenue and the end-user does not need to pay the website or encounter ads, instead, …

Importing Crypto Mining Hardware Suspended by The State Bank of Vietnam

The State Bank of Vietnam (SBV) is the Central bank of the country. On July 19, 2018, Viet Nam News reported that the bank enforced a suspension on the import of cryptocurrency mining hardware. This move comes after the Ministry of Industry and Trade (MoIT) suggested that the import of crypto …