Bybit CEO Says Bitcoin Still Has a Long Way to Go Before Becoming 'Digital Gold'
Uk Jin
Summary
- Bybit CEO Ben Zhou said Bitcoin still has a long way to go before it becomes mature digital gold.
- He said Bitcoin's high price volatility remains a hurdle for traditional financial institutions to accept it as a store of value.
- Still, he added that his long-term view has not changed that Bitcoin will establish itself as digital gold.
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Bitcoin still needs more time before it can establish itself as mature "digital gold," Bybit Chief Executive Officer Ben Zhou said.
Wu Blockchain reported on September 20 that Zhou made the remarks in an interview with Cointelegraph during Paris Blockchain Week in April.
Zhou cited Bitcoin's recent price volatility. He said the cryptocurrency remains too volatile for traditional financial institutions to accept as a reliable store of value.
Still, he added that his long-term view is unchanged and that Bitcoin will eventually establish itself as "digital gold."
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.