Not in Your Grandma’s Wallet: Bitcoin Redefining Money

Will Bitcoin replace paper money? During an interview on the FOX Business Network’s Mornings With Maria ,Digital Currency Group CEO Barry Silbert, who’s considered the most active investor in Bitcoin companies, said: “[Bitcoin] it’s going to change the way that people send money, spend money — even think about money. It’s kind of redefining what is money.”

As an investor of companies in over 20 countries, he sees the most Bitcoin action in places where people use mobile devices for transactions.

“We are seeing dramatic adoption in places like Kenya, Argentina, Brazil, South Africa — places where people have mobile devices, but they don’t have bank accounts,” he said.

He also discussed how regulation is impacting the digital currency.

“[Regulators] are certainly paying attention… I used to think that regulation was Bitcoin’s biggest threat — I actually think it’s the biggest opportunity now… Running a bank, operating a bank — you cannot be innovative. You can’t think outside the box. You can’t do anything creative. Whereas you have hundreds of thousands of startups around the world that are looking to, again, kind of disintermediate… It is really going to eat banks alive.” 

With only $5B in market cap, Silbert believes Bitcoin’s

Read more ... source: TheBitcoinNews

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