After the value of Bitcoin peaked recently, an Icelandic cryptographer has spoken in favor of encouraging increased confidence in virtual currency.
Bitcoin prices crossed $ 50,000 for the first time this week, following sharp rises last fall, and following Tesla’s company Elon Musk invested half a billion US dollars in electronic currency.
Kjartan Ragnarsson – Managing Director Icelandic Blockchain Foundation, which exists to introduce cryptocurrencies – said RÚV that the state’s supervision of virtual funds had increased significantly in recent years.
His reassurance comes following a warning from the Icelandic Central Bank that the market is not adequately controlled.
It is now possible to buy Bitcoin through three companies in Iceland, all of which have a license from the Financial Supervisory Authority of the Central Bank of Iceland. Kjartan said that Bitcoin trading was started with about 600 million ISK last month.
“Currently, only about two percent of the world owns Bitcoin, so I think we are very early in the process. If I’m wrong, this must at least be a good story to tell at some point, “Kjartan told RÚV. He said he could not be sure that the price of Bitcoin would continue to rise, but that he was sure that cryptocurrency was the future of money.
Source: The Nordic Page