Crypto Prices Fall; Twitter CEO Still Believes Bitcoin to be Internet’s Currency By

© Reuters. – Crypto prices traded lower on Monday in Asia. While not a directional driver, reports that CEO and co-founder of Twitter Jack Dorsey said he still believes Bitcoin will be internet’s native currency received some focus.

Dorsey made the comments in an interview with American comedian and podcast host Joe Rogan on Feb 2.

“[Bitcoin] was something that was born on the internet, that was developed on the internet, that was tested on the internet…It is of the internet,” said Dorsey. He has made similar remarks last year in May.

During the interview, Rogan also asked Dorsey if he foresees any pushback in regards to Bitcoin, to which he answered by suggesting to “just look at some of the major banks and their considerations on Bitcoin.”

Dorsey noted that “they all love blockchain, because of the efficiencies it can create for their business and potentially new business lines,” but then suggested that this technology is “certainly threatening to certain services behind banks and financial institutions, it’s threatening to some governments as well…”

On Monday, slipped 0.7% to $3,456.9 by 12:55 AM ET (05:55 GMT).

slid 2.5% to $107.38, traded 2.8% lower to $ 0.30106, and was down 2.3% to $33.642.

In other news, cryptocurrency exchange QuadrigaCX is reportedly missing CA$190 million dollars ($145 million) in digital assets following the sudden death of its founder Gerry Cotton.

The Globe and Mail reported on Feb 1 that the firm has been unable to locate or access the funds since Cotten passed on Dec. 9, as he was the only person that has access to the system that stores the funds. He was also the only one that knows the passwords and the recovery key.

The exchange filed for creditor protection in compliance with the Companies’ Creditors Arrangement Act (CCAA) on Feb. 1, the report added.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Leave a Reply

Your email address will not be published. Required fields are marked *