Bitcoin could be the first worldwide currency

The CEO of the organization that owns and operates the biggest stock exchange in the world, the CEO of ICE Jeffrey Sprecher thinks that bitcoin can possibly be “the first worldwide currency,” and he is putting his company’s weight behind an active arrangement to make this a reality.

The first worldwide currency

As CCN revealed, Intercontinental Exchange (ICE) — the proprietor of the New York Stock Exchange (NYSE) — is forming another organization, named Bakkt, that looks to connect the gap between Wall Street, Main Street, and Bitcoin.

Talking with Fortune, ICE’s CEO Jeffrey Sprecher clarified that he trusts that — reinforced by Bakkt’s framework — bitcoin could turn into the cash of decision for worldwide transactions.

Sprecher said ”Bitcoin would greatly simplify the movement of global money,” and “It has the potential to become the first worldwide currency.”

The move will allow the ICE not just to dispatch a physically-settled bitcoin futures product but also custody crypto assets directly and help retailers accept bitcoin and cryptocurrency payments. Starbucks is working alongside the ICE, Microsoft, and BCG, to launch Bakkt and be at the forefront to accept bitcoin and cryptocurrency payments.

Into the mainstream

As well as helping you to pay for your Skinny Latte with crypto, as announced by the ICE on Friday, Bakkt will also leverage Microsoft cloud to create an open and regulated, digital asset ecosystem.

And with this mind that, if successful, Bakkt guarantees to plant bitcoin firmly into the mainstream. Sprecher also said that it could attract younger investors.

“Millennials don’t trust traditional financial institutions. To gain their trust, banks, brokerages, and asset managers can use a currency that millennials believe in, like Bitcoin. Using digital currencies brings a lot of sizzle,” he told Fortune.

Months previously Sprecher made, another announcement uncovering that ICE expects to play a focal part in encouraging that “sizzle.”

Back in April, he had said that “there is a trend here we can’t ignore”, “People put more faith in a guy named Satoshi Nakamoto that no one has ever met than they do in the US Fed.”

 

Disclaimer: This article is for information and entertainment purposes only and should never be construed as investment or trading advice. Bitcoin and other cryptocurrencies can be extremely volatile and you should always do your due diligence and research on the topic, utility, product or service and legal and regulatory requirements before deciding to invest. We do not take any responsibility for possible losses you may incur.

 



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