RATE Group | Blow To Bitcoin As Coinbase CEO Makes Stark Warning
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Blow To Bitcoin As Coinbase CEO Makes Stark Warning

15 Aug Blow To Bitcoin As Coinbase CEO Makes Stark Warning

Posted at 09:58h in Bitcoin News by

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Coinbase CEO Brian Armstrong sits for a portrait in their San Francisco headquarters on May 4, 2018. (Photo by Christie Hemm Klok for The Washington Post via Getty Images)

Bitcoin and cryptocurrency adoption rates around the world are growing, but not quickly enough to prevent the bitcoin price from falling — and now the chief executive of San Francisco-based Coinbase, one of the world’s largest cryptocurrency exchanges, has warned that widespread, mass bitcoin adoption for payments is going to be a long time coming.

The bitcoin price is currently just over $6,000 after falling below the psychological barrier yesterday for the second time this year. The bitcoin price is down some 70% from its highs at the end of last year and many of newer cryptocurrencies that have been created in the last few years have been all but wiped out.

The bitcoin price has fallen far from its 2017 highs in recent months.CoinDesk

“I think it…

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