LBN
  • Home
  • News
    • Altcoin News
    • Bitcoin News
    • Exchange News
    • Dogecoin News
    • Litecoin News
  • Charts
    • BTCUSD Chart
    • LTCUSD Chart
    • ETHUSD Chart
    • ETCUSD Chart
    • XMRUSD Chart
    • DASHUSD Chart
  • Education
    • Bitcoin Glossary
    • How to Trade Bitcoin
    • Why Use Bitcoin?
    • Bitcoin Wallet
    • How to Buy Bitcoin
    • How Can I Mine Bitcoin?
    • How Can I Buy Litecoin?
    • How Can I Mine Litecoin?
    • Current Bitcoin Regulation
  • Press Releases
    • View All Press Releases
    • Submit a Press Release
  • Advertise
No Result
View All Result
LBN
  • Home
  • News
    • Altcoin News
    • Bitcoin News
    • Exchange News
    • Dogecoin News
    • Litecoin News
  • Charts
    • BTCUSD Chart
    • LTCUSD Chart
    • ETHUSD Chart
    • ETCUSD Chart
    • XMRUSD Chart
    • DASHUSD Chart
  • Education
    • Bitcoin Glossary
    • How to Trade Bitcoin
    • Why Use Bitcoin?
    • Bitcoin Wallet
    • How to Buy Bitcoin
    • How Can I Mine Bitcoin?
    • How Can I Buy Litecoin?
    • How Can I Mine Litecoin?
    • Current Bitcoin Regulation
  • Press Releases
    • View All Press Releases
    • Submit a Press Release
  • Advertise
No Result
View All Result
LBN
No Result
View All Result
Bitcoin
Bitcoin News

Barry Silbert Says That Bitcoin is Here to Stay, Invests More Money into It

by Rebecca Campbell
July 19, 2018
in Bitcoin News, News
Share
logo

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000

Sign up

The founder and CEO of the Digital Currency Group, Barry Silbert, sees a bright future for Bitcoin as an investment choice, claiming that it has “hit the bottom for the year.”


Bitcoin Is Here to Stay

Barry Silbert was speaking at the Delivering Alpha Conference in New York yesterday when he made his comments. He said:

I think we’ve probably hit the bottom for the year.

During the downturn in Bitcoin’s price, Silbert said that he put money into the cryptocurrency last week, reports CNBC. In recent days, the value of Bitcoin has increased, rising nearly 19 percent in the past seven days, according to CoinMarketCap.

Earlier this week, it was trading around $6,700 and is currently valued at $7,400. It still remains down over 60 percent from its mid-December high of around $20,000. However, this isn’t dampening the feelings of advocates.

With market prices increasing – the industry is currently worth $289 billion – Silbert is optimistic over Bitcoin as an investment. He stated:

As an asset class it is here to stay … I’m 100% confident a decentralized, non-fiat form of money is here to stay.

Silbert is a known crypto believer. In May, he said that money is going digital and that “digital currency is here to stay.” At the time, he was arguing that securities laws in place since the Great Depression may need to be updated in light of the growing interest in cryptocurrencies.

Bitcoin bull Barry Silbert says that the cryptocurrency is here to stay.

Reasons for Bitcoin’s Rise

For much of 2018, the number one digital currency has been struggling to gain an upward price traction. With Bitcoin falling below $6,000 twice in June, there was speculation that it could fall further.

Not only that, but Clem Chambers, CEO of ADVFN, a financial market website, said that it will “probably” drop to $2,000 first before rising up to $20,000.

The last few days, however, have seen Bitcoin rallying in price. What, though, has spurred this on?

One factor could be that Lloyd C. Blankfein, CEO of Goldman Sachs, is retiring later this year. He has remained on the fence regarding the crypto market. Yet, his successor, David Solomon, is reported as someone with an interest in cryptocurrencies.

Another area to look at is that more interest is being seen from institutional investors. On Tuesday, Adam White, the vice president and general manager at Coinbase, said that institutional investor interest in the crypto market is becoming widespread. As a result, it is helping to drive the market. The San Francisco-based crypto exchange is one firm that has been expanding in recent months due to an increasing demand from customers.

What do you think is driving market prices up? Let us know in the comments below.


Images courtesy of Shutterstock.

Related Posts

Cardano (ADA) Price
Altcoin News

Cardano (ADA) Price Analysis: Key Barrier Intact At $0.40

ADA price is still struggling to clear the $0.40 zone against the US Dollar. The price is now trading...

by Aayush Jindal
November 28, 2023
Ethereum Price
Altcoin News

Ethereum Price Analysis: ETH Holds Key Uptrend Support

Ethereum price started a downside correction from the $2,135 resistance against the US Dollar. ETH price is now trading...

by Aayush Jindal
November 28, 2023
Stellar Lumen (XLM) Price
Altcoin News

Stellar Lumen (XLM) Price Signals Downtrend Below $0.120

Stellar lumen price is gaining pace below the $0.124 resistance zone against the US Dollar. XLM price is now...

by Aayush Jindal
November 27, 2023
XRP Price
Altcoin News

XRP Price Analysis: XRP At Risk of Drop Toward $0.50

XRP price started a fresh decline below the $0.620 zone against the US dollar. The price is now trading...

by Aayush Jindal
November 27, 2023

Top Casinos

Crypto Casinos
Crypto Casinos
Bonus Finder
Bonus Finder

Press Releases

  • ArbitrageScanner is hosting its biggest affiliate event in Bangkok on the 9th of December. For...

  • Is the Bitcoin price still at risk? Golden Cross signals bull run

  • FUNToken & ivendPay: Pioneering the Next Era of Crypto Payments

  • Zeebu’s $ZBU Listing On Gate.io and Startup Program

  • Blockchain Expo Global 2023: Uniting the World’s Leading Innovators in London

About us:

Live Bitcoin News is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at Live Bitcoin News, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

Follow us:

  • This field is for validation purposes and should be left unchanged.

  • About
  • Partners
  • PR
  • Advertising
  • Privacy
  • T&C
  • Contact
  • Trading Software
  • Online Casinos Germany

© 2023 Live Bitcoin News. All Rights Reserved.

No Result
View All Result
  • Home
  • News
    • Altcoin News
    • Bitcoin News
    • Exchange News
    • Dogecoin News
    • Litecoin News
  • Charts
    • BTCUSD Chart
    • LTCUSD Chart
    • ETHUSD Chart
    • ETCUSD Chart
    • XMRUSD Chart
    • DASHUSD Chart
  • Education
    • Bitcoin Glossary
    • How to Trade Bitcoin
    • Why Use Bitcoin?
    • Bitcoin Wallet
    • How to Buy Bitcoin
    • How Can I Mine Bitcoin?
    • How Can I Buy Litecoin?
    • How Can I Mine Litecoin?
    • Current Bitcoin Regulation
  • Press Releases
    • View All Press Releases
    • Submit a Press Release
  • Advertise

© 2023 Live Bitcoin News. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.
Go to mobile version