Richard Branson Says Bitcoin is “The Pioneer of a Global Currency”

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Richard Branson Says Bitcoin is “The Pioneer of a Global Currency”
Richard Branson Says Bitcoin is “The Pioneer of a Global Currency”

Richard Branson Says Bitcoin is “The Pioneer of a Global Currency”

Richard Branson, an English business magnate and investor, best known as the founder of Virgin Group, which comprises more than 400 companies, has been a huge fan of Bitcoin. In his recent interview to the April issue of Delta’s SKY Magazine, Branson spoke about a number of topics, of which he also discussed the digital currency.

The whole interview is available with the April issue of Delta’s SKY Magazine wherein he said that it was a genius who set Bitcoin up. However, his praise for Bitcoin does not come with reservations he has; for instance, he says that there’s a number of flaws with it — chiefly, its transparency.

He admitted that the secrecy about Bitcoin’s founder is an issue. Though he thinks that Bitcoin may not be the perfect global currency of the future yet, it’s the pioneer of a global currency. It is his desire to get a perfect global currency that prompts him to think that such a currency could come from someone well known like Twitter co-founder Jack Dorsey.

Incidentally, Jack Dorsey’s Square, a company that seeks to make accepting credit/debit cards simple has already started measures to promote Bitcoin. Sir Richard Branson said that Dorsey is someone who is more likely to come up with the currency of the future that would be completely transparent.

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One of His Companies Accepts Bitcoin

Mr. Branson also hopes that using the Virgin Money brand, bringing up perfect global currency can become a reality. One of his company’s commercial space flight Virgin Galactic is now accepting the digital currency receives a lot of publicity. Branson noted in late January that “six or seven” individuals had purchased a Virgin Galactic flight using Bitcoin.

Currently, each ticket is priced at about $250,000, or about 500 BTC at the current exchange rate. Though business magnate Sir Richard Branson is no stranger to the topic of Bitcoin and digital currency, his timely opinion in support of the currency which has fallen to half of its value a couple of months ago, is being welcomed.

His view that he thinks that though Bitcoin may not be the end-all of a global currency due to lack of transparency, it is still the pioneer of a global currency will help investors who are worried about the steep fall in the exchange rate of the digital currency.

To contact the reporter of this story: Deepak Tiwari at deepak@forexminute.com