Jeffrey C. Sprecher (Founder, Chairman and CEO of Intercontinental Exchange and Chairman of the New York Stock Exchange) along with his wife Kelly Loeffler (CEO of BAKKT) having a chat with the MIT Media Lab’s Michael Casey.
At the Consensus Invest Conference in New York on Tuesday, the chairman of the New York Stock Exchange, Jeffrey Sprecher discussed the present scenario of Bitcoin and cryptocurrency market. While looking at the news headlines Michael Casey ask: “Does Price matter to you guys ? what i am trying to get here, you are about to launch new exchange (BAKKT) at a time when BITCOIN Market looks quite different from when you’re first pursuing this?
Will Bitcoin and digital assets survive? Kelly Loeffler said;
“I’d say the unequivocal answer is yes. We’re creating that infrastructure that doesn’t exist today,
which we think is a big opportunity for institutional investors to come in”
“If you look at price discovery process, i think that’s what we really focused on! The price is merely expression of Supply and Demand ! So take bitcoin, known supply available demand, The price is being expressed but there is a lot of missing, ( i.e infrastructure and use cases) and that’s what we are doing it back to kind of back fill for this asset class that’s growing so quickly and so we couldn’t be more optimist about where things stand today, price notwithstanding as an exchange operator, it’s not our idea, it’s not our objective to opine on prices.”
Bakkt Tweeted :
Bitcoin and digital assets are here to stay, says Jeffrey C. Sprecher. He is teaming with Microsoft and Starbucks to launch new Cryptocurrency Exchange, i.e BAKKT on January 24, 2019, subject to regulatory approval. The initial launch of BAKKT was set for November 2018, but the company announced it would push that debut back to January next year.
Just earlier that day, Cointelegraph reported on the establishment of an Association for Digital Asset Markets (ADAM) to create a “code of conduct” for the cryptocurrency sector.
Among ADAM’s founding members are Duncan Niederauer (former CEO of the New York Stock Exchange) along with Mike Novogratz’s crypto merchant bank Galaxy Digital, global financial services firm BTIG, fintech firm Paxos and crypto liquidity solutions provider GSR.
Commenting on the Bitcoin (BTC) futures contract offering, Jeffrey C. Sprecher said:
“The Bakkt futures contract will help Bitcoin traders establish a trusted price.
Bitcoin now trades at different prices on different exchanges, many of which are unregulated.”