XBT Provider: Bitcoin Will Go Mainstream, but Big Changes Take Time.
Hailing from Sweden, a Bitcoin venture is in the rise. Introducing XBT Provider, a service that introduces Bitcoin Tracker One; Bitcoin as an ETN, an exchange-traded note. Coin News Asia had the chance to speak with its Marketing Manager, Christoffer De Geer, to share some developments in this venture.
When you first use Bitcoin, it is like nothing else. As soon as you try it you understand how payments should function and how revolutionary this technology actually is. It is worth devoting so much time to because it let’s you be in the forefront of a revolution similar to the one that took place when the internet arrived. But this time in the financial sector. It’s already a reliable form of payment. It does however need to become more user friendly.
I believe that Bitcoin will continue to prove that it is the most secure ledger and while niche altcoins might come and go, I do not believe any of them will surpass bitcoin.
It will go mainstream, but big changes take time.
On Lanching the Business
Due to regulation it takes a bit of time to launch any product in this space. But for example, we launched our first product, Bitcoin tracker One, in May and are now on October the 5th, launching our next product, Bitcoin Tracker EUR.
Compared to most other cryptoventures, XBT Provider is making it possible to get easy and secure exposure to Bitcoin, whoever you are. By being available on Nasdaq Nordic, many institutional investors can trade our ETN while they would not be allowed to purchase Bitcoin. Our advantage is that we are targeting everyone, not just people already in crypto.
In the near future we are very excited to launch Bitcoin tracker EUR, since it will give global investors few boundaries to get exposure to bitcoin. We are constantly working on new products and are planning to announce new products shortly. Unfortunately I can’t go into details about what products we are developing but I can recommend everyone to keep an eye on our website to get the latest announcements.
On XBT Provider
With the launch of Bitcoin Tracker One we saw an incredible interest in Bitcoin as an investment. Both private individuals and institutional investors invested in the ETN and to be able to call the launch a success is by far our greatest achievement so far.
I would say that the most revolutionary aspect of XBT Provider is that we have proven to deliver Bitcoin to all investors, not only the ones that have technical knowledge of cryptocurrencies. With the launch of Bitcoin Tracker EUR, we believe that we once again will prove that Bitcoin is an asset that should be considered by all investors.
The Asian Market
Asia is a vast area and hard to define by just one market. In Asian markets where modern banking is established, I believe Bitcoin will first come in through regulated exchanges as a new asset for all investors to consider. However, some Asian markets could adopt Bitcoin faster than many developed countries since their population is very digitally literate but lack classic banking infrastructure.
The Bitcoin Price
The Bitcoin landscape is changing very fast but we are seeing more and more favorable changes for investors.
We are seeing more regulated exchanges becoming positive towards Bitcoin and regulatory frameworks regarding how to treat Bitcoin is constantly being improved.
We have also seen 1 billion USD in investment in core Bitcoin infrastructure which constantly increases the use case for bitcoin.
More use cases will mean more mainstream adoption that we expect will happen in the next 12 month.
These are all positive factors positive factors but it has not impacted the price of bitcoin yet, so while I don’t have a specific price prediction I believe that with the launch of Bitcoin Tracker EUR on the 5th of October, this will be a fantastic time to invest in what will become the future of money.
It is hard to explain how simple it is to use bitcoin. Try it. Also, Keep an eye on Bitcoin Tracker EUR because on October 5th when it launches you will be able to see just how interested everyone is in Bitcoin. Not only the people already in Bitcoin but everyone else as well.
CNA: Thank you very much, Christoffer.
Know more about the cryptocurrency movement in conjunction with Bitcoin Asia here at CNA.