ICE CEO Bullishly Believes The Success Of Cryptocurrency Market Is “Unequivocal”

by | Nov 29, 2018 | Cryptocurrency, Cryptocurrency News

Jeff Sprecher | ICE | Cryptocurreny Market | Bitcoin

The CEO of the Intercontinental Exchange (ICE) and Chairman of the New York Stock Exchange, Jeff Sprecher, is amongst the notable outspoken supporters of Bitcoin(BTC) and the cryptocurrency ecosystem in general. Similar to other loyal enthusiasts, Sprecher is confident that the market will soon recover from its current lull.

Amidst bitcoin’s worst corrections in its decade-long history, analysts and investors from the traditional, venture, and crypto realms still maintain high hopes from the digital assets. Sprecher discussed his opinions on the crypto market at the CoinDesk’s Consensus Invest event on Tuesday.

The event was hosted by crypto industry’s leading innovators, analysts, and executives in New York. ICO’s Chief was quite confident that digital assets will survive the current market crash down. Infamous for his penchant for innovation and acceptance, Sprecher responded to the self-imposed question,  “Will digital assets survive?”, with “the unequivocal answer is yes.” He also added that the declining price points haven’t affected his view on the matter.

While a lot of bullish crypto enthusiasts have backed down under the current market scenarios, Sprecher manages to maintain an optimistic outlook. His current sentiment is echoed by the likes of Vinny Lingham, Sonny Singh, among others.

Cryptocurrency Optimism 

Though, Sprecher did not elaborate on his beliefs. Anthony Pompliano, a partner at Morgan Creek Digital sort of did it for him. Commonly known as “Pomp”, he stated that despite the technical, psychological, and historical indicators of BTC signal lower lows, there is a better, brighter future for the token.

Speaking on CNBC’s early morning “Squawk Box,” on Monday, Pomp added that Bitcoin is the world’s most secure transaction settlement layer, so BTC will always have value, no matter the state of traditional markets or how blockchain technologies have developed.

Furthermore, he notes that despite the 2018’s drastic sell-off, cryptocurrencies as a whole remain that best-performing asset class in 10 year’s time, even usurping the U.S. equities market, which has been on a monumental bull run post-2008’s Great Recession.

Bakkt’s Delay 

Joining Sprecher in his optimism, Kelly Loeffler, his bride and CEO of Bakkt addressed the same Consensus panel, she discussed her thoughts on cryptocurrencies and about the much talked about the delay of Bakkt’s in-house, physically-backed Bitcoin (BTC) futures launch. 

Loeffler’s brainchild, Bakkt was backed by the collaboration of Intercontinental Exchange, along with Starbucks, Microsoft and BCG. She explains that the original timeline was ambitious and the customer pipeline filled up quickly. she noted:

“To give it the best chance for success we pushed it back to the holidays to give people more time to get on board. It’s a positive indication of the interest and it gives people time to learn. We have a responsibility to do that so we’re taking that extra time.”

Starting off with Bitcoin, the company will provide custody and price discovery for bitcoin that’s free from fraud and manipulation. Prices now tend to fluctuate depending on the exchange, which in many cases are unregulated. She said:

“We’re creating that infrastructure that doesn’t exist today, which we think is a big opportunity for institutional investors to come in.” 

Read more: SEC’s Chairman Jay Clayton Expects Some Key Upgrades Before Approving Bitcoin ETF

Arshmeet Hora

The idea of expressing one’s views and reviews through words is beyond intriguing. What started as a creative let out has now become a passion and a profession for Arshmeet K Hora. In her own words ” with every word, every article that I write, my passion towards this medium has grown stronger.”  Arshmeet covers latest crypto news and updates as well as what happening new revolving around Blockchain Technology.

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