XAPO CEO and Renowned “Patient Zero” Says Bitcoin “May Work, It Might Not”

CEO of the bitcoin wallet and vault (XAPO), Wences Casares sat down with Bloomberg’s Erik Schatzker to discuss volatility of the crypto sphere, along with where Bitcoin might be headed on Monday, October 29, on Bloomberg’s market. Casares is definitely rooting for Bitcoin, given his endeavor, XAPO, however he argues that the giant will take time to deem itself as a worthy asset.

The CEO who’s earned the nickname, “Patient-Zero”, for having tried to spark interest within the crypto sphere in Silicon Valley noted that Bitcoin is currently at the same stage as the “1992 for the internet,” adding that Bitcoin might or might not work.

When it comes to assessing what makes Bitcoin successful, Casares shared his viewpoint and stresses that the giant will have become successful if and only if it becomes a “global standard of value and settlement,” as quoted by Bloomberg. Given Bitcoin becomes some standard of value, the CEO added that it will not go as far as replacing fiat currencies noting that it is “nonsensical.”

In order words, he strongly affirms that,

“we need a non-political standard of value and we don’t have one.”

To watch the entire interview, go to: https://www.bloomberg.com/news/videos/2018-10-29/cryptos-are-an-intellectual-experiment-xapo-ceo-casares-says-video

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