NYSE chairman Jeffrey Sprecher has come out in support of Bitcoin and the blockchain


NYSE chairman Jeffrey Sprecher has come out in support of Bitcoin and the blockchain

Bitcoin and the technology behind Bitcoin i.e. blockchain is receiving support from Intercontinental Exchange (ICE) CEO and New York Stock Exchange (NYSE) chairman Jeffrey Sprecher. He has supported Bitcoin and the blockchain, voicing his belief that the technologies are part of a larger change in how trust is being established in society.

Talking about the digital currency and blockchain technology he said that he trusts Bitcoin to great extent. He was talking with CNBC’s Bob Pisano on “Power Lunch”, Sprecher opened up about NYSE’s investment in Bitcoin services provider Coinbase’s recent $75m Series C funding round, one of the largest so far closed by an industry firm.

Nonetheless, Sprecher has been quite vocal about his support for Bitcoin when he suggested NYSE has been looking into Bitcoin and the blockchain for “over a year.” However, at the same time he noted the exchange has found the language of the industry difficult to navigate. No doubt a lot of government agencies are intrigued by blockchain tech, it should not surprise.

Interestingly, when Jeffrey C. Sprecher, an American businessman and the Founder, Chairman and CEO of Intercontinental Exchange and Chairman of the New York Stock Exchange, gives such views, it gives a lot of momentum for Bitcoin. This chemical engineer from the University of Wisconsin–Madison, is an MBA from Pepperdine University, knows a lot about Bitcoin.

Sprecher says that his interest had persisted due to the fact that millennial are becoming comfortable using the technology in the same way that they are becoming used to other platforms. He added that they are seeing millennial trust a currency that is created in the ether, more than they trust fiat currency by government.

Encouraging View from Key People for Bitcoin

According to him trend, whether it’s a restaurant review or a taxicab or the way a user exchanges value, is something they believe in and he wants to be on top of it because he thinks it’s going to impact everyone. He also adds there’s something to it alluding to Bitcoin and the blockchain.

He admits that there’s something here, that’s why the company invested in it. His views on Bitcoin and blockchain technology are encouraging the stakeholders as these carry immense value. If the digital currency keeps receiving such support from key people around the world, it has immense scope to emerge as a popular option for fiat.

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