Max Levchin, co-founder of the worldwide online payment system PayPal, announced his views on Blockchain technology Sunday in Silicon Valley as ‘revolutionary’ but is still unsure about Bitcoin.
The famously successful entrepreneur remains open to it but is still unsure about the long-term stability of cryptocurrency.
Based off this interview, Levchin clearly expressed the power that blockchain technology holds and how far it will reach but he doesn’t see a certainty with Bitcoin.
Levchin said, “I invest in things that I have a strong, long-term point of view on and Bitcoin I’m still trying to figure out.”
Many others have been in the new praising the underlying blockchain technology but knocking the cryptocurrency that runs on the blockchain. Huge financial leaders such as the president of Mastercard have implied of the bright future of the technology of the blockchain but don’t necessarily include Bitcoin in the mix.
Levchin also added, “I think a form of a Blockchain technology, Bitcoin or otherwise will be essential and will not go away. Not only that, it will continue advancing and being used in many different industries from financial technology to medicine. But it’s not clear to me whether Bitcoin itself is the great long-term investment.”
Despite the negative comments against the world’s largest cryptocurrency, Bitcoin continues to break all-time high records and is now selling over $11,800.
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