Coinbase VP: Bitcoin Price Volatility Will Decrease With Institutional Capital

Adam White, vice president of Coinbase Inc., tried to offer some perspective amidst the numerous claims about bitcoin being a bubble amidst the cryptocurrency breaking the $10,000 price point.

White told Emily Chang of Bloomberg that he disputes the contention that bitcoin is a bubble, although he acknowledged that the price is an easy metric for people to attack. He said the price is only one important quantitative indicator of bitcoin’s success.

Other Metrics Matter

Coinbase has also looked at bitcoin’s utility, including how many people are using it and the daily transactional volume, White said.

“That happens separate from the price, and we’re also seeing great growth in it,” he said.

Chang noted that the number of Coinbase’s accounts have tripled to 13 million in the last year. White said there were 5 million retail customers at the beginning of the year. “Coinbase.com is the easiest way to get started buying and selling with a little bit of digital currency,” he said. Coinbase also reports its total trading volume, White added. More than $50 billion has traded on the platform. Average everyday users are adopting the technology.

https://www.cryptocoinsnews.com/coinbases-white-defends-bitcoins-price-surge-disputes-naysayers/