Brian Armstrong: taking mass bitcoin takes time

Brian Armstrong: taking mass bitcoin takes time

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Coinbase CEO Brian Armstrong believes that despite the steady growth of bitcoin use, it will take a long time before he becomes involved in daily payments. He told about this in an interview with Bloomberg.

“I think that the time will pass before you can go to Starbucks on the next street and pay off with cryptocurrency,” Armstrong said.

According to his estimate, only 10% cryptocurrency is now used in real life. Nevertheless, the head of Coinbase sees positive signals for digital assets.

“People have very high expectations, however, the actual adoption bitcoin grows every year. I appreciate the potential of the countries that are experiencing the economic crisis, and I think that in 3 to 5 years, when everyone has Internet and smartphones, people will see a real alternative in bitcoins and other cryptocurrencies, ” Armstrong said.

He also noted that cryptocurrencies traditionally pass through periods of bubbles and corrections.

“Technology passes through the periods of bubbles, them it was four or five. After the achievement of peak bitcoin was corrected on 60-70 percents, and then occupied new heights. It look like the height of the our company. In 2012-2013 for us registered oneself for 500 persons in a day. After a next bubble them 5 thousands became. Now the amount of registrations arrives at 50 thousands in a day”,  Brian Armstrong declared.

He also noted that in the future there will remain obstacles for the distribution bitcoin in some countries.

“Everything will be like the Internet. In some countries, bitcoins and cryptocurrencies will be limited, ” the CEO of Coinbase believes.

Recall earlier in August, representatives of Starbucks denied the information that the company is pan to introduce a payment option in bitcoins.

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