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3 Sep, 2019 14:05

Bitcoin still the gold standard of cryptocurrencies, expert tells Boom Bust

Bitcoin still the gold standard of cryptocurrencies, expert tells Boom Bust

The price of the world’s most popular digital currency, bitcoin, has climbed above the psychological $10,000 mark overnight. Its total share of the crypto market is now the highest since March 2017.

RT’s Boom Bust is joined by Aly Madhavji of the Blockchain Founders Fund to discuss the future of FinTech. He explains that the virtual currency’s sharp rebound came amid global economic and geopolitical uncertainty.

Madhavji says that many countries such as Malta, Singapore, Switzerland, and even Portugal have made positive strides on their crypto regulation. Existing and new upcoming crypto exchanges are choosing to leave or not enter the US, he adds. “So, this is definitely a problem where many companies are not focused on the US now and it is a big risk for the United States to fall behind.”

Madhavji says that “bitcoin is still the most stable for miners and the most consistent.”

For more stories on economy & finance visit RT's business section