- Banga pointed to volatility and the fact that no one entity manages Bitcoin as being an issue - the latter being precisely the reason why proponents support the asset
- The CEO used an example that seemingly tries to refer to volatility to argue why financial inclusion wouldn’t be possible
- “Can you imagine someone [trading] a currency that could cost the equivalent of two Coca-Cola bottles today and 21 tomorrow? That's not a way to get them [included but] make them scared", Banga said
- Banga has previously compared cryptocurrencies to “junk” that shouldn’t be a medium of exchange
- His statements come at a time when multinational investment bank JPMorgan Chase says that Bitcoin could be a strong store of value with a potential multifold price gain
- Mastercard is working on its blockchain-based solutions through a partnership established with R3’s Corda in September 2019
Mastercard CEO: Bitcoin Won’t Help the Unbanked
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