- Various projects in the cryptocurrency industry are creating momentum for Bitcoin growth.
- “You’re starting to see that these currencies have real use cases around the world,” BitPay CCO to Bloomberg.
In a recent interview with Bloomberg, Sonny Singh, BitPay’s chief commercial officer said that Bitcoin still has the potential to rise to higher market value from the current. According to Singh, various projects in the cryptocurrency industry are creating momentum for Bitcoin as well as endorsing digital assets and are the main force behind the ongoing broad-based bull run.
“You’re starting to see that these currencies have real use cases around the world, and it’s making people really excited now because they can see the light at the end of the tunnel for these use cases.”
The CCO of BitPay made the comment with regards to projects like Facebook’s soon to launch stablecoin, Fidelity Investment, JPMorgan’s JPM Coin, as well as telecoms, provide AT&T move to start accepting payment in Bitcoin in collaboration with BitPay.
He added that Bitcoin potential to grow depends on the exposure it receives from the mainstream. He also made a comment in regards to the regulators’ role in the growth of Bitcoin and other digital assets. Singh said:
“How’s the regulator going to show that JPMorgan we like, but bitcoin and ethereum we don’t like?”
“It’s going to be hard. They’re going to have to make a classification: ‘digital currencies — these are the rules around all digital currencies.’ And that’s what the industry’s waiting for — to have regulations that we can follow and adhere to prove that everything is legal in an organized way.”
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