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Blockchain Payments’ Mass Adoption Is 3-5 Years Away, Says BitPay CEO

Stephen Pair, the CEO of BitPay, declared that speculation is a substantial Bitcoin price driver, while “actual utility” is not. The CEO of crypto merchant platform BitPay Stephen Pair stated that speculation on future adoption drives Bitcoin’s (BTC) price more than “actual utility,” in an interview on CNBC Dec. 13. Speaking on the reasons behind Bitcoin’s current value, compared to its historic price highs, Pair told reporters: “A very big component of the [Bitcoin’s] price is certainly speculation. It’s investors that are speculating on the future usage and adoption of this technology. I’m sure a small component of that price is the actual utility.” When asked about a Bitcoin ETF’s potential to stimulate a price rally, Pair argued that “not just ETF adoption or ETF launches” could be catalysts for price movement, but that “adoption will push the prices higher,” adding optimistically: “I do think we’ll see those kinds of prices at some point in the future, if history is any guide.” A..

BitPay’s Copay Wallet Compromised by Malicious Code, Firm Issues Advice for...

Crypto payment processor BitPay has issued advice for users of its open-source Bitcoin (BTC) wallet Copay, which has reportedly been compromised by malicious code. Crypto payment processor BitPay issued advice on its official blog yesterday, Nov. 26, for users of its open-source Bitcoin (BTC) wallet Copay, which has reportedly been compromised by malicious code. The vulnerability pertains to a third-party Node.js module, also known as an “event stream,” which is used in versions 5.0.2 through 5.1.0 of BitPay’s Copay and BitPay apps. According to a GitHub issue report, this module was modified to load malware that is capable of stealing users’ private keys. BitPay’s post states that the BitPay app was not vulnerable to the malicious code, but that its team is investigating whether the vulnerability had been exploited against any CoPay users. In the meantime, the company has outlined advice for its users, stating that anyone using Copay version from 5.0.2 to 5.1.0, “should not run or op..

BitPay COO Sonny Singh: Bitcoin Could Hit $15-20K by End of...

Chief Commercial Officer of global crypto payment processor BitPay, Sonny Singh, has ventured that Bitcoin could hit $15,000 to $20,000 by the end of 2019. The Chief Commercial Officer (COO) of global crypto payment processor BitPay has ventured that Bitcoin (BTC) will hit $15,000 to $20,000 by the end of 2019. The COO, Sonny Singh, made his forecast during an interview with Bloomberg Nov. 22. In the midst of a bearish market picture – with Bitcoin down over 32 percent in value on the month – Singh said that he expects the next big price action to come when mainstream financial sector giants such as Fidelity and Intercontinental Exchange (ICE) start to launch their crypto-based investment products next year. The financial giants’ entry into the space could catapult Bitcoin’s price to as high as $15,000-$20,000 by the end of 2019, Singh told reporters. Aside from traditional financial incumbents’ launch of crypto-based products, Singh pointed to structural changes in the crypto market ..

Crypto Payment Platform BitPay Introduces Settlement in Stablecoins

Crypto payment platform BitPay has started accepting stablecoins GUSD and USDC. U.S.-based cryptocurrency payment processor BitPay has started accepting stablecoins, according to an announcement published Oct. 15. The company now allows its merchants to receive settlements in Gemini Dollars (GUSD) and Circle USD Coin (USDC). Founded in 2011 in Atlanta, Georgia, BitPay provides payment services with Bitcoin (BTC) and Bitcoin Cash (BCH) with a customer base of 20,000 businesses globally. GUSD and USDC are Ethereum (ETH) blockchain-based stablecoins issued by regulated crypto exchanges Gemini and Circle. The value of each of these coins is tied to the value of the U.S. dollar at a 1:1 ratio, which purportedly reduces the risk of volatility. BitPay says in its blog post that the stablecoins enable merchants to receive settlements in any part of the world even if they do not have bank accounts, since the coins exist on borderless blockchains. BitPay claims to issue settlement for GUSD and ..

CCO Of BitPay, Sonny Singh, Has Taken A Bullish Stance On...

The cryptocurrency market has had a terrible few months this 2018. Bitcoin, the leading cryptocurrency per market capitalization is also taking the lead in the price plummet. Irrespective of the rough few months, the number of projects being hosted on various blockchains have doubled since last year. Although many scam ICOs have become a source of worry to people within and outside the industry, the successful ones have provided the perfect environment for driving innovation and development in the cryptocurrency industry. Bitcoin (BTC) Price Today – BTC / USD Name Price24H (%)$6,463.26 0.22% Many critics have condemned ICOs claiming that they are no more than ponzi schemes used to extort money from unsuspecting individuals. Not everyone feels that way about the industry. The CCO of BitPay, Sonny Singh, claims that the present state of the cryptocurrency market as a whole shouldn’t be alarming to investors and spectators. He said that even with the high price volatility, the trajector..

BitPay CCO Predicts Altcoins to ‘Never Come Back,’ Bitcoin to ‘Rebound’...

The CCO of BitPay says altcoins will “never come back,” calling Bitcoin “the leader in the space” to rebound in 2019. The CCO of global crypto payment processor BitPay said that altcoins “will never come back,” while Bitcoin (BTC) will “rebound” in 2019, in an interview with Bloomberg September 12. The Chief Commercial Officer of BitPay Sonny Singh said that cryptocurrency markets are now on the threshold of a new stage of progress, which requires a certain “defining moment,” or a “catalyst.” According to Singh, that “defining moment” will come when big institutional investors, such as Goldman Sachs and BlackRock, “become real” in 2019. “But next year you'll see the talk of the big entrants become real, where you’ll see Goldman does launch a trading desk, Fidelity does launch a Bitcoin product, Square offers Bitcoin processing for merchants, BlackRock launches an ETF... So all that will become real, and you’ll see some adoption actually. And then [...] the price [will bounce] bac..
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