Brian Kelly to See Bitcoin as Internet in 80s

Founder and CEO, BKCM LLC believes that Bitcoin is in early stage of its development
16 April 2018   761

Founder and CEO of the BKCM LLC investment company , Brian Kelly compared the crypto-currencies with the "Internet in the 1980s", stressing that bitcoin is still in the early stages of its development, on CNBC.

Speaking about the potential of bitcoin, Kelly stressed that he used to compare crypto-currencies with the Internet as he was in 1995, but over time he realized that the reference should be made to a much earlier stage.

I think this technology is going to work, it’s going to be game changing, but it’s very early days, so we can have this massive volatility. 

Brian Kelly

Founder and CEO, BKCM LLC

Kelly compares bitcoin with Internet companies, such as Cisco and Microsoft, at the stage of their formation, where bitcoin could play the role of a router or an Internet protocol. At the same time, he emphasizes that the classification of bitcoin as a security or a company is incorrect.

This is an open source software, you can’t think of it as a company, and that’s where people make their mistake [...] This is not a stock, this is not a company.
 

Brian Kelly

Founder and CEO, BKCM LLC

The expert also mentioned the recent report of Barclays, whose employees compare bitcoin with an infectious disease. Kelly noted that it was after such negative articles he "wanted to buy an asset, be it bitcoin or not."

On Friday, Kelly said, he supports Tim Draper, who expects the bitcoin rate to reach $ 250,000 by the end of 2022.

SEC to Decide on Bitcoin ETF until Feb 27 2019

Despite this news, Bitcoin price hit another bottom - $3400 this time
07 December 2018   97

The US Securities and Exchange Commission (SEC) issued a notice stating that consideration of a decision on an application to start Bitcoin-ETF from VanEck and SolidX with the assistance of CBOE will last until February 27 of next year.

According to the SEC rules, the period for consideration of this decision cannot be extended yet. Thus, the Commission on maximum uses the allotted time, and February 27 will be the final date for the decision on this application.

The Commission finds it appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider this proposed rule change.
 

Securities and Exchange Commision

According to representatives of the SEC, to date, the Commision has received more than 1600 comments on this application.

Despite this news, Bitcoin price hit another bottom - $3400 this time.