Crypto-Follow logo Crypto-Follow logo
Seeking Alpha 2022-03-30 14:04:42

Bakkt CEO: Digital gold, store of value narrative hinders crypto space

Bakkt (NYSE:BKKT) CEO Gavin Michael believes the narratives surrounding digital gold or store of value vs. spendable money is starting to hinder the digital asset space. "I think this digital gold and store of value narrative was helpful for a period of time, but I actually think now it's really starting to hinder the space, Michael said at the Barclays Crypto and Block Chain Summit. Michael looked back at the origins of Bitcoin (BTC-USD), which was invented in 2008 by an unknown person or group using the name Satoshi Nakamoto, "it was designed as peer-to-peer electronic cash. It wasn't designed to be a replacement for gold in a vault." With interest in the decentralized industry taking hold, Michael explained that Bitcoin "can certainly function as a digital gold replacement, but there's so much more we can get from it." Note that Bakkt (BKKT) is a crypto platform that enables consumers

#
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer