Businessman From Australia Intends To Open Cryptocurrency Bank
Australian entrepreneur Fred Schebesta plans to open a bank for operations with cryptocurrencies, as he is confident that the public interest in digital currencies is increasing, and soon people will need an organization to conduct crypto transactions, according to a local online resource News.com.au.
The 26-year-old businessman intends to open a crypto bank in Australia within 18 months. He will need a special license from the authorized depository, and Shebesta plans to cooperate with the local bank Goldfields Money in order to obtain it. He has already acquired shares of this financial institution, the only organization in the West of Australia, which has such a license.
Fred Schebesta is sure that bitcoin is not a bubble, despite its strong volatility and current price. In his opinion, BTC equally succumbed to criticism when it was estimated at $10, $100, or $1000. The Australian entrepreneur does not agree that the interest in cryptocurrency has disappeared, and adds that, actually, we see a slight decline due to the fact that people are upset because of the sudden decrease in the bitcoin’s price. Schebesta stresses, like many experts, that the first cryptocurrency has much in common with gold.
As previously reported, in recent years, the crypto market’s capitalization soared to the astonishing level of more than $700 billion, although it was only $20 billion last year. Experts consider this a cryptocurrency revolution and refer to digital assets as a substitute for traditional means.