Bitcoin Exchanges Struggle to Win Investor Confidence
- Traders take issue with basics at cryptocurrency markets
- Changes are headed in the right direction, exchanges say
Bobby Lee, BTCC co-founder and chief executive officer, discusses the outlook for cryptocurrencies with Bloomberg's Yvonne Man and Betty Liu on 'Bloomberg Daybreak: Asia.' (Source: Bloomberg)
Bitcoin needs “Downtown” Josh Brown more than he needs bitcoin. Brown, the chief executive officer of Ritholtz Wealth Management and author of a popular finance blog, has long been skeptical of the digital currency. He finally bought some, he said, “because the goddamn thing won’t go away.”
Still, Brown, who helps manage half a billion dollars, isn’t really a convert quite yet, especially when it comes to security measures at bitcoin exchanges. He researched several before buying his bitcoins at Coinbase Inc. and wasn’t impressed, he said in an interview. “I don’t think any one service is safer than another. It’s too early to anoint any of them as the JPMorgan of bitcoin. I don’t think that exists.”