Latest News

Alex Mashinsky, Celsius CEO Says Bitcoin Not Best As A Payment Option

The CEO of crypto lending platform Celsius, Alex Mashinsky thinks differently as regards Bitcoin not suitable for payments.

Furthermore, during an interview on Coin Stories, Alex Mashinsky paints contrasting thoughts between the qualities of the US dollar and the leading cryptocurrency.

So, Alex Mashinsky explains.
“I’d much rather be in a scenario where the dollar remains as the…”
“reserve currency but Bitcoin continues to do very well…”

“The dollar is a phenomenal form of payment. It’s a horrible store of value and…”
“Bitcoin is a phenomenal store value, but it’s a pretty bad form of payment.”

More so, Alex Mashinsky notes that using Bitcoin for Payment isn’t a good idea at all. Then, stresses that people who are regretting ever using it for transactions in the past.

Additionally, Alex Mashinsky continues.
“If you fell for Elon Musk’s deal where he gave you a Tesla for two or three Bitcoins,..”
“obviously you hate driving that Tesla because you would in a second go back and take those…”
“three Bitcoins and return the Tesla, which lost value during the same period of time.”

Lastly, Alex Mashinsky concludes.
“Anything you bought with Bitcoin in the last 10 years, you rather have the Bitcoin back…”
“and would have paid in US dollars. That’s really the crux of the matter that you…”
“cannot use it as a form of payment or cannot use it in a way…”
“that makes you happy about the transaction.”

Galaxy Interactive Rises Additional $325M Fund For Metaverse and Next Gen…>>

Related Posts – Bank DBS’s Crypto Business Grows Massively Due To Growing Demand From Investors

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.