Coinbase CEO: For the widespread adoption of crypto-currencies need a lot of time
Coinbase CEO Brian Armstrong believes that despite a steady increase in the use of bitcoin will be a long time before he will be involved in daily payments. He told this in an interview with Bloomberg.
“I think it will take time before you can go to the Starbucks on the next street, and accept cryptocurrency,” said Armstrong.
In his estimation, only 10% of the cryptocurrency is now used in real life. However, the head of Coinbase sees positive signals for digital assets.
“People have very high expectations, however, the actual decision [of bitcoin] is growing every year. I highly appreciate the potential of the countries experiencing the economic crisis, and I think that within 3 to 5 years, as the Internet and smartphones will be available to all, people will see bitcoin and other cryptocurrencies real alternative,” said Armstrong.
He also noted that cryptocurrencies are traditionally held through periods of bubbles and corrections.
“Technology goes through periods of bubbles, there were four or five. After reaching a peak bitcoin was adjusted to 60-70%, and then was taken to new heights. This is similar to the growth of our company. In 2012-2013, we recorded at 500 people a day. After the next bubble they became 5 thousands. Now the number of registrations reaches 50 thousand a day,” said Brian Armstrong.
He also noted that in the future will remain obstacles to the spread of bitcoin in some countries.
“It will be like the Internet. In some countries limit the bitcoin and crypto-currencies,” — said the CEO of Coinbase.
We will note that earlier in August representatives of Starbucks has denied reports that the company panirom to introduce the possibility of payment in bitcoin.