Coinage CEO: Market Needs to Move Beyond Bitcoin

Bitcoin is still the king of the cryptocurrency world, with almost every altcoin heavily tied to its price. Coinage CEO Chad Pankewitz, however, believes the market needs to move beyond Bitcoin if it is to have a sustainable future.

Future of Trading Digital Assets

There are dozens of exchanges currently open to the public and almost all of them use Bitcoin as a trading pair to hundreds of other altcoins. Using Bitcoin is often the only way to purchase many other cryptocurrencies, especially projects that have yet to gained widespread recognition.

Coinage CEO Chad Pankewitz thinks that a Bitcoin decoupling needs to happen sooner rather than later. He told Venture Beat:

From a long-term perspective, we want to take a stand, and the first steps toward moving the market away from being tied to Bitcoin…There are thousands of projects in cryptocurrency – distributed apps, blockchain use cases, and smart contract platforms across every industry vertical. Each has their own project, company, team, utility, levels of funding, traction, community, and business model. We believe these companies’ valuations should not be tied to Bitcoin and should be valued on their individual merits, much like a traditional stock market.

Bitcoin is a critical part of the cryptocurrency ecosystem. It is the most secure, valuable, and traded coin on the market. In many cases, it is the only digital currency that people outside of the community have ever heard of. Bitcoin is essentially the poster child of the entire cryptocurrency movement and a large crash would send shock waves throughout the entire space, bringing most altcoins down with it…

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