UTC-05:00,Thursday , May 23rd 2019

BTC Has Different Use Cases; Venezuela Is A Good Example, Says ShapeShift's Eric Voorhees

12:22 Wednesday , May 15th 2019
In discussion with Bloomberg, Voorhees, CEO of ShapeShift, stated that BTC's price fluctuations and bubbles pave the path for establishing itself as a legitimate form of transaction. Voorhees was also asked whether Bitcoin will always remain a speculative asset or will it be used for actual purposes. To this, the Shapeshift CEO replied, "The usage of Bitcoin actually depends on where the user is. In Venezuela, people are using it to escape inflation while in other countries people have started using in actual transactions. I agree that a majority of the use cases are still speculative but that will change as soon as people fully embrace it."
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