8 September, the head of the exchange Coinbase (the largest in the world by number of users) Brian Armstrong spoke about bitcoin price and market volatility during the conference, TechCrunch Disrupt.
The head of Coinbase started with the fact that he noticed that the employees of his company are constantly monitoring the price of bitcoin, as used to track the trends and statistics about the current status of the company. According to him, he tries not to concentrate on the price of bitcoin, because it inspires everyone in the company to “think in the long term” and not to worry about price fluctuations from day to day.
Next, Brian spoke about pjatnadtsatiminutnogo price drop this week, and that the atmosphere in the office by now, different from the one that was two or three years ago. He said that all the gossip about the recent fall of prices has not caused him the slightest concern, but his company “at least five times” faced with a similar situation (recession).
“So we just need to accept the fact that this business is very cyclical, and we have to grow, experiencing all the UPS and downs meticulous and careful. As I said, I encourage everyone to look at things in perspective”.
According to Armstrong, he is more concerned with the proliferation of cryptocurrencies, the question of how within five years to make them a reality for five billion people – while price fluctuations were a minor factor.
Co-founder of Coinbase has also raised the issue of the price increase of bitcoin and other cryptocurrencies, and “mad” scene on the platform in the fourth quarter of last year. All this led to the fact that all major media since then every day they say and write about cryptocurrency.
Brian Armstrong said:
“I think it’s good. I approve. I think that sometimes the focus is slightly shifted in the sense that it is solely about price and its growth. So many people are now familiar with cryptocurrencies… I think it’s a great marketing and no doubt a contributing factor to the development of the Coinbase”.
Finally, Armstrong admitted that the management of the company in periods of rapid price growth is “really interesting”, because at this time, “you feel that the whole world is enveloped in flames.”