Blockchain Payments’ Mass Adoption Is 3-5 Years Away, Says BitPay CEO
The CEO of crypto merchant platform BitPay Stephen Pair stated that speculation on future adoption drives Bitcoin’s (BTC) price more than “actual utility,” in an interview on CNBC Dec. 13.
Speaking on the reasons behind Bitcoin’s current value, compared to its historic price highs, Pair told reporters:
“A very big component of the [Bitcoin’s] price is certainly speculation. It’s investors that are speculating on the future usage and adoption of this technology. I’m sure a small component of that price is the actual utility.”
When asked about a Bitcoin ETF’s potential to stimulate a price rally, Pair argued that “not just ETF adoption or ETF launches” could be catalysts for price movement, but that “adoption will push the prices higher,” adding optimistically:
“I do think we’ll see those kinds of prices at some point in the future, if history is any guide.”
Answering a question about blockchain-based currencies’ use in daily transactions, the BitPay CEO told CNBC that he expects such adoption to occur on a mass scale in under half a decade, stating that.
Readmore:
https://cointelegraph.com/news/blockchain-payments-mass-adoption-is-3-5-years-away-says-bitpay-ceo