Bitcoin Is 'Here To Stay' Says Wall Street Boss Amid Crypto Rout

Bitcoin Is 'Here To Stay' Says Wall Street Boss Amid Crypto Rout


Bitcoin has been struggling recently, losing 40% of its value in just two weeks, as a civil war in rival cryptocurrency bitcoin cash and fears much-anticipated institutional investment will fail to materialize weigh on bitcoin and cryptocurrency investors.

Bitcoin's woes have caused many to doubt the future of cryptocurrencies, though others are confident bitcoin and its peers will soldier on, with New York Stock Exchange (NYSE) chairman Jeff Sprecher among the more optimistic.

"The unequivocal answer is [digital assets will survive]," Sprecher said earlier this week at the Consensus: Invest conference in New York, it was first reported by CNBC. "As an exchange operator, it’s not our objective to opine on prices."

Bitcoin has over the last two days climbed back over the psychological $4,000 mark after falling as low as $3,600 last week amid a route that has wiped billions from the market capitalizations of the world's biggest cryptocurrencies, including the likes of Ripple's XRP and Ethereum's either. Read more 




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