Levchin Adds to Bloomberg and Blankfein Debate as Experts Weigh in on Bitcoin

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Max Levchin, the co-founder of Paypal, has become the latest high-profile figure to speak out on Bitcoin. His words echo those of Michael Bloomberg from a few days ago; blockchain is the future, Bitcoin might not be.

Better than the Sum of its Parts

Blockchain technology has gone global in a very short space of time. From financial transactions to data storage and now, possibly, elections, its security and levels of anonymity are unparalleled in today’s technological context. Levchin told CNBC, “It’s a brilliant mathematical idea, fantastic technology, interesting commodity to speculate on. TBD on whether it’s a currency or just a way to make money fast.”

Making money fast is certainly what some have done. Mike Novogratz is one of the most often-quoted major bitcoin investors and a major bull in the cryptocurrency area. His belief that the currency will continue to break records in 2018 could see him make billions. Meanwhile, the Winkelvoss twins of Facebook fame have been reported to have become the first verified bitcoin billionaires this week.

Levchin, like Bloomberg and Blankfein, is still undecided on bitcoin though. “I think a form of a blockchain technology…will be essential and will not go away…But it’s not clear to me whether Bitcoin itself is a great long-term investment.” The three prominent figures in the world of business all seem to agree that it is not worth investing in the currency at the moment, but at the same time, not one of them has said the word “never”.

The cautiousness of the three men is hardly surprising, given the huge rises and falls that Bitcoin has experienced over the last month or so. Whether or not they could be tempted by stability in the future or not though, remains to be seen.

via : https://coinblip.com/blog/levchin-bloomberg-debate-experts-weigh-bitcoin/

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