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New York Stock Exchange President Jeff Sprecher recently commented on cryptocurrencies. Specifically, Sprecher said that Crypto-currencies and Bitcoin were here to stay – despite the current bearish sentiment of the market.
Sprecher: digital assets have a bright future
These comments came during CoinDesk's "Consensus: Invest" conference. Toshi Times have already covered the recent speech of SEC Chair Jay Clayton, also held during the congress.
Sprecher, on the other hand, is both the chairman of the New York Stock Exchange and the CEO of Intercontinental Exchange – his parent company.
Although Sprecher began by noting that it was not his role as an exchange operator to predict cryptocurrency prices. Nevertheless, when asked about the recent fall in cryptocurrency prices, he did make some comments on this. In fact, Sprecher said he believes digital assets have a bright future.
On top of that, he was adamant that cryptocurrency would survive. "The unequivocal answer is yes," Sprecher noted over a question regarding the future of the asset class.
In addition, Sprecher went on to point out that bitcoin was still a reference standard for all other cryptocurrencies. "In a way, Bitcoin lived in a swamp and survived," Sprecher said. "There are thousands of other brands that you could call better, but bitcoin continues to survive, thrive and attract attention."
Sprecher's wife is Bakkt's CEO
In an anecdotal way, Sprecher's links with digital assets are becoming more and more perceptible. In addition to his previous attitude on cryptocurrency, his wife, Kelly Loeffler, is the CEO of Bakkt. In addition, Intercontinental Exchange supports Bakkt – as well as Starbucks, Microsoft and BCG.
Bakkt will start processing Bitcoin futures in the first quarter of next year. Originally scheduled for December 2018, the launch was recently postponed until January 24, 2019 due to an "unexpected demand".
Mr. Loeffler said this decision stemmed from the desire to give Bakkt "the best chance of success" and "give people more time to get started."
Bakkt is intended to "provide protection and price discovery" for Bitcoin supposedly without fraud or market manipulation. Nevertheless, it should be noted that the main rival of the Intercontinental Exchange, the Nasdaq, is also expected to launch a Bitcoin term product in the first quarter of 2019. Nasdaq's intentions and plan were: recently covered by Toshi Times.
Source of the image: "Flickr"
Rasmus Pihl is a writer for the day Toshi Times and a fervent follower of the night cryptocurrency sector. Rasmus holds a Bachelor's degree in Marketing from the Gothenburg School of Business, Economics and Law and runs a Swedish marketing consultancy. Moreover, when he is not writing for Toshi Times, is not traveling, working or changing the world in any other way, Rasmus is more than likely taken in postgraduate studies.
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