Cointelegraph
Stephen Pair, the CEO of BitPay, declared that speculation is a substantial Bitcoin price driver, while “actual utility” is not.
The CEO of crypto merchant platform BitPay Stephen Pair stated that speculation on future adoption drives Bitcoin’s (BTC) price more than “actual utility,” in an interview on CNBC Dec. 13.
Speaking on the reasons behind Bitcoin’s current value, compared to its historic price highs, Pair told reporters:
“A very big component of the [Bitcoin’s] price is certainly speculation. It’s investors that are speculating on the future usage and adoption of this technology. I’m sure a small component of that price is the actual utility.”
When asked about a Bitcoin ETF’s potential to stimulate a price rally, Pair argued that “not just ETF adoption or ETF launches” could be catalysts for price movement, but that “adoption will push the prices higher,” adding optimistically:
“I do think…
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2018-12-15 22:53:00