Coinbase CEO: Not surprised by Bitcoin Rally in December

The almost sudden Bitcoin Rallye since few days is little amazing for the CEO of Coinbase. The phenomenon of such a strong price loss is nothing new. The adaptation and progress of digital currencies in the industry is more successful than ever.

Asiff Hirji, CEO of the largest American crypto exchange Coinbase describes in CNBC’s Fast Money Show that he never doubted a return of Bitcoin and Co., but that everything is normal and healthy processes and developments. Furthermore, he pointed out that now is a good opportunity to enter the crypto market at a low price or to buy more (freely translated):

Things are never as good as they seem. They are also not as bad as they seem. And to quote Buffet: “Be greedy when others are afraid, and be afraid when others are afraid.” I don’t think it’s surprising to me that we’ve been a bit backwards.

This year has been marked by innovation and scaling debates and a lot of new energy and visions for 2019. For him, it is also a good indicator that the number of jobs in the area of blockchain technology has risen sharply. Making a profit is one side of the coin, but practical application and regulatory embedding in the global economy are particularly important (freely translated):

I think that the amount of innovations that took place last year in the crypto currency has exceeded everything in all the years before. And if you just look at the number of engineers using crypto currencies and the number of actual products being launched, we’ve never had as much innovation as we have today.

Hirji firmly believes that only Bitcoin, Ethereum and a few other projects will survive in the long term that will actually add value to industry and humanity. In his opinion, the next big wave of innovation is imminent (freely translated):

And you should assume that over time we will add all relevant crypto currencies in as many geographic regions as we are allowed to add them. I think this is the beginning of the next big wave of innovation in technology, and you should expect more and more crypto currencies over time.

Coinbase has invested a lot of time, energy and money in the expansion of its infrastructure this year. Above all, this includes a secure storage function for institutional investors and investors with large sums of money. Furthermore, it is very important to ensure long-term liquidity in order to be able to act at all times. The complete interview can be seen here:


Hirji as well as we are very confident for the next time and wish you all a Merry Christmas!

Ho ho Hodl! ?