Bitcoin is ‘digital gold,’ says co-founder

Bitcoin is ‘digital gold,’ says co-founder

Cryptocurrency isn’t going anywhere — in fact it’s set to take a leap forward in coming years, says tech entrepreneur and Co-founder Fred Schebesta.

“I’m a big believer in Bitcoin,” he says. “I think it’s like digital gold. I think it will last on and on and on.”

In a newly released interview, taped on March 2, Schebesta rejects pessimists who say cryptocurrency is a passing fad, noting that the price of Bitcoin (BTC-USD) has remained stable of late.

“Bitcoin’s been called dead for 10 years now,” he says. “Seems to still be going. You know, I think the price is holding up pretty well throughout this as well.”

As of Thursday afternoon, the price of Bitcoin stood at $9,115, marking a 20.7% increase over the past three months, while the S&P 500 has fallen 3.5% over that period. Bitcoin surged at the outset of this year despite coronavirus fears.

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