Bitcoin price is a distraction, says Glenn Hutchins

The rollercoaster ride of the bitcoin price captivated many in the finance industry in 2017, but according to Glenn Hutchins, one of the biggest establishment names to venture into the Wild West world of cryptocurrencies, this is just noise that distracts from the bigger developments that are taking place.

Mr Hutchins, the co-founder of Silver Lake Partners, a big technology-focused private equity firm, is far more excited by the broader cryptocurrency ecosystem than he is by bitcoin smashing through price records.

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