Home News Yahoo cofounder believes in bitcoin’s remarkable role

Yahoo cofounder believes in bitcoin’s remarkable role

Jerry Yang head of AME Cloud Ventures and Yahoo co-founder said in his interview to CNBC that he personally believes Bitcoin is likely to become a driving force for global positive changes once it’s treated as a transaction currency.

“Bitcoin as a digital currency is not quite there yet,” said Jerry Yang. “Personally, I am a believer in how digital currency can play a role in our society… but for now, it seems like it’s more driven by the hype of investing and getting a return rather than using it as a transaction currency,” he said,  while speaking on the Fortune Global Forum in Guangzhou.

Last friday bitcoin’s price hit one more historical record and its market cap passed Visa’s.  Bitcoin’s recent dramatic rise means it will rank among the 20 largest S&P 500 stocks.