Bitcoin Remains Best Cryptocurrency: Wall Street’s “Crypto King”

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12 Jul 2018, 10:04

Bitcoin Remains Best Cryptocurrency: Wall Street’s “Crypto King”

Bitcoin remains the best bet among cryptocurrencies because people are “functionally using it,” Bart Smith, head of digital assets at Susquehanna International Group, a global trading firm that are active in a wide range of markets, told CNBC.

He compared bitcoin to ethereum and smaller tokens built on the Ethereum platform by explaining that technologies such as smart contracts and decentralized apps “are very difficult [to use] and aren’t coming any time soon.”

“The use case for bitcoin is valid today, which is the currency of the Internet,” he said, adding that “it’s digital gold and it’s a cross-border money transfer which people use.”

While discussing bitcoin’s relative resilience as other tokens have sold off heavily, Smith, dubbed “Wall Street’s crypto king” by the show host, also mentioned two important price levels to keep an eye on in the bitcoin market; USD 5,800 and USD 6,800. (USD 6.362 at press time, according to
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12 Jul 2018, 19:32

Yes, BTC is king of crypto world

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