10 Dec '13, 7pm

PayPal president on Bitcoin: 'I don't think it is a currency' by

PayPal president on Bitcoin: 'I don't think it is a currency' by

PayPal president David Marcus thinks people are mistaken thinking Bitcoin is a currency. Marcus spoke at LeWeb in Paris today saying that until Bitcoin is regulated and more stable, it is not a currency. As it stands, Bitcoin is more of an asset, one that Marcus holds himself. He explained: People are confused. They think because it’s called cryptocurrency [that] it’s a currency. I don’t think it is a currency. It’s a store of value, a distributed ledger. It’s a great place to put assets, especially in places like Argentina with 40 percent inflation, where $1 today is worth 60 cents in a year, and a government’s currency does not hold value. It’s also a good investment vehicle if you have an appetite for risk. But it won’t be a currency until volatility slows down. Whenever the regulatory framework is clearer, and the volatility comes down, then we’ll consider it. Because ...

Full article: http://venturebeat.com/2013/12/10/paypal-president-on-bit...

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