Consolidation in Cryptocurrencies Could Be Good Thing, says Bitgo’s CTO

The video discusses the global approach to cryptocurrencies, highlighting concerns about Facebook's Libra project and the potential impact of new cryptocurrencies like those from PBOC. It explores Bitcoin's market dynamics, including its price range and future catalysts like block reward halving. The discussion also covers market consolidation, institutional interest, and the need for financial infrastructure such as custodians and global liquidity. The potential for cryptocurrencies to become a payment platform rather than just an asset is also considered.

What was the European Central Bank's stance on Facebook's Libra project?

• They fully supported it without any concerns.

• They decided to invest in the project.

• They ignored the project completely.

• They had concerns and called for a global approach to cryptocurrencies.

What is one potential reason for Bitcoin to break out of its current price range?

• A sudden increase in gold prices.

• The halving of Bitcoin's block reward.

• The introduction of a new cryptocurrency by Facebook.

• A decrease in global interest rates.

How does the halving of Bitcoin's block reward affect its supply?

• It doubles the supply of Bitcoin.

• It has no effect on the supply.

• It decreases the supply of Bitcoin.

• It increases the supply of Bitcoin.

What are institutional investors looking for in the cryptocurrency market?

• A single cryptocurrency exchange.

• Physical storage solutions for cryptocurrencies.

• Custodians, global liquidity, and margin lending.

• More volatility in prices.

What is a potential future use of blockchain technology mentioned in the video?

• Eliminating all forms of digital transactions.

• Building traditional banking infrastructure.

• Creating physical currency notes.

• Developing decentralized banking products and online lending.