NYSE Chairman: Millennials Trust Bitcoin More Than Fiat
Intercontinental Exchange (ICE) CEO and New York Stock Exchange (NYSE) chairman Jeffrey Sprecher has come out in support of bitcoin and the blockchain, voicing his belief that the technologies are part of a larger change in how trust is being established in society. Speaking to CNBC's Bob Pisano on "Power Lunch", Sprecher opened up about NYSE's investment in bitcoin services provider Coinbase's recent $75m Series C funding round, one of the largest so far closed by an industry firm. Sprecher suggested NYSE has been looking into bitcoin and the blockchain for "over a year", but noted the....
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NYSE Chairman Jeffrey Sprecher recently appeared on CNBC's "Power Lunch" where he briefly expressed his views on the digital currency Bitcoin, and its underlying technology Blockchain. The Wall Street veteran said that the millennials trust Bitcoin more than they trust the government-backed fiat currencies, and further acknowledged its potential to be a game-changer. By making references to other progressive software applications, Sprecher stated: "Young people, Millennials, trust their app and how many stars you give a driver, more than they trust the New York Taxi Department who vets and....
Exchange-traded products with exposure to cryptocurrencies are increasingly gaining ground. NYSE Arca, a subsidiary of the New York Stock Exchange (NYSE) Group, wants to list and operate a trust based on Bitcoin (BTC) exchange-traded products (ETP).In a rule-change proposal with the United States Securities and Exchange Commission, NYSE Arca proposed to list shares of the Bitwise Bitcoin ETP Trust.The proposal clarifies that each share of the trust will be represented by fixed “units of undivided beneficial ownership,” allowing the shares on the stock exchange to reciprocate their value in....
In a recent survey conducted by Goldman Sachs, it was discovered that most millennials might not be too open about bitcoin developments. Among the 752 respondents in the survey, 51% indicated that they have never used bitcoin nor do they have any plans of doing so. Meanwhile, 22% said that they have used it in the past and will most likely use bitcoin again. Another 22% said that they have never tried using bitcoin before but they are open to using it. Lastly, 5% indicated that they have tried using bitcoin and have no plans of using it again. Concerns about Bitcoin. With plenty of other....
Earlier in 2016, Facebook IQ, a team of researchers, scientists and analysts funded and supported by Facebook Inc., published a white paper entitled “Millennials + money: The unfiltered journey” to evaluate the beliefs and thoughts of today’s youth on traditional banking and financial systems. The paper found that 92 percent of millennials firmly expressed their distrust of banks. The general population, including millennials, are rapidly developing a sense of awareness towards the manipulation, monopoly and control that banks and financial institutions impose on user funds and money. Cash....
A new survey published by Goldman Sachs has found that just over half of US millennials believe they will never use bitcoin. Fifty-one percent of the 752 survey respondents said that they had never used bitcoin nor do they have any plans to do so. Twenty-two percent said they currently use it or have used it in the past, and intend to use it again. An additional 22% said that they have never used bitcoin before but plan on using the digital currency. Just 5% of respondents said they have used bitcoin but do not intend to use it again. The data forms part of a broader look at the financial....