The Yahoo co-founder thinks that digital coins will play an essential role in the future of society, even if the Bitcoin is not still there.
Talking at the edge of the Fortune Global Forum in China, Yahoo’s co-founder Jerry Yang attracted parallels in volatility and technology stocks from the early days of the internet. Repeatedly, the early pioneer of the Internet chose to talk about Bitcoin instead as a currency rather than a narrative of its value at a time when the Bitcoin value reached a new level of 15,000 USD.
Bitcoin as a digital coin is not yet there, he said to CNBC. People do not use it to trade. People use it as a good investment. Distinctly, he replied:
I personally, I’m a believer if digital money can play a role in our society. Not only the front end of the transactions but also the backend to create a more efficient system and a correct system.
Yang’s comments about digital coins such as Bitcoin ring a melody related to those offered by Apple co-founder Steve Wozniak who sees Bitcoin, as a more authentic and real cryptocurrency than the US dollar and higher to gold as a value store.
But for the moment, Jerry Yang attached: it seems that Bitcoin is more driven by the hype to invest and get a return, rather than using it as a trading currency.
Technicians’ views on Bitcoin are in stark contrast to JPMorgan’s head Jamie Dimon, who recently dubbed “fraud.” A remarkable Bitcoin skeptic, Jamie Dimon previously said that Bitcoin does not deserve anything in 2015, at a time when Bitcoin was trading under 300 USD. Yesterday, Bitcoin’s growth value helped propel the entire scriptability market ahead of JPMorgan’s 360 billion dollars.