A few years ago, people perceived the Bitcoin cryptocurrency as a scandalous scheme launched to rip-off their hard earned money. But today, most venture capitalists see the cryptocurrency as a rewarding venture scheme with a brighter future. In fact, Bitcoin’s value and reputation have been growing steadily.
A transitory history of the cryptocurrency
While most people think that Bitcoin is new, Mr. Stephen Hicks, the CEO of Southridge says that Bitcoin has been around since 1998. However, it was officially recognized in 2009, when its developers decided to uncover it. The cryptocurrency was developed by a team of anonymous researchers who wanted to make a currency that could not be regulated by any authority.
Southridge’s CEO discloses why Bitcoin is gaining a steady traction
Southridge Capital LLC’s CEO says that the Bitcoin is increasingly gaining traction since many organizations like Cboe and CME recognize it as a legal tender. Actually, some giant financial service companies like Deutsche Bank, Barclays, and BNP Paribas are looking for effective ways to work with Bitcoin.
Recently, Intercontinental Exchange, NYSE’s parent company announced that it was developing a platform that could allow investors to purchase Bitcoins. Moreover, other principal investment firms like Goldman Sachs, and Susquehanna International Group have declared that they are on the verge of giving their customers access to the crypto market. Check out citybizlist.com for more.
Some of the top figures like JP Morgan’s CEO who once discouraged their followers from Bitcoin have stepped out to recommend Bitcoin as an authentic cryptocurrency that is worth the investment.
In an interview with newswire, the Southridge Capital CEO encouraged his readers to venture into the cryptocurrency industry. He said that cryptocurrency was here to stay. Mr. Hicks proposed that young ventures should opt to establish a channel where people could discuss the “coin”.
Stephen Hicks is the founder of Southridge Capital LLC, a US-based financial advisory firm. Mr. Hick has a solid background in risk arbitrage, financial analysis, investment banking, as well as coordinating mergers & acquisitions. Besides, he is a member of Daystar Foundation, an organization that funds charity organizations working to change the lives of the unfortunate.