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March 19, 2019
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Bitcoin

SIX Group Executive Says Bitcoin is a Lot of ‘Hope and Hype’

Thomas Zeeb, the head of securities and exchanges at the SIX Group isn’t a fan of Bitcoin and cryptocurrency trading. Speaking in a recent interview, Zeeb spoke about his opinion on Bitcoin, the upcoming SDX launch, as well as other topical issues in the cryptocurrency space.


Nothing Behind Bitcoin but ‘Hope and Hype’

Speaking to Business Insider, Zeeb characterized Bitcoin as having little merit beyond the realms of hope and hype. According to him, reputational problems were plaguing the top-ranked cryptocurrency.

However, Zeeb was quick to point out that Bitcoin wasn’t alone in that category, saying:

But let’s face it, whether you’re in a traditional or a digital market, there’s always been listings and securities you can name — US and Canadian penny shares, Australian mining shares — there have always been listings that are hugely risky and in some other ways potentially problematic.

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To the extent notoriety is concerned, Bitcoin gets a negative rap that is totally unrelated from what the fact of the matter is in the market. An ongoing explanation by a high-positioning specialist of the U.S. Medication Enforcement Agency (DEA) uncovered that theoretical speculations represented the more prominent dominant part of Bitcoin exchanges as against tranquilize trafficking and other unlawful exercises.

SDX Unlikely to List Cryptocurrencies

Zeeb likewise talked about the Swiss Digital Asset Exchange (SDX) and its designs of turning into a standard bourse for advanced resources. The SDX, which is controlled by the SIX Group-possessed Swiss stock trade will center around ICO tokens.

As per Zeeb, the SDX wishes to uncover the ICO tokens to institutional speculators, upgrading the authenticity of the market. Remarking on the arrangement, the SIX Group official stated:

There is demand from institutional clients to find a way to legitimize and bring asset safety into play. Our job is to bring capital to companies at the end of the day. That’s changing.

With its focus on ICO tokens, Zeeb insists that the SDX will not venture into the cryptocurrency trading market. According to Zeeb, cryptocurrency exchanges that handle such trades are dime-a-dozen. Hence, the SDX feels no incentive to participate in a saturated environment. Instead, Zeeb prefers that the platform focuses on bridging the funding gap faced by blockchain startups by providing a marketplace where their tokens can become tradeable assets.

Do you agree with Thomas Zeeb’s characterization of Bitcoin as ‘hope and hype?’? Let us know your views in the comment section below.


Image courtesy of Bankingtech.com and ShutterStock

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