The CEO of Coinbase started the discussion by stating that the company’s employees always keep a tab on the price of Bitcoin [BTC]. This is because it is used to track trends and stats about the current status of the company.
He continued to say that he tries not to concentrate on the price of Bitcoin as he encourages everyone in the company to “think long-term” and not to fret about the price change on a day-to-day basis.
Brian further spoke about this week’s price drop which was around 15% and the difference in the office atmosphere when compared to the two or three years ago. He said that the talk about the recent price drop did not reach his radar and the company has been through this situation multiple times now.
“I think the company has been through this period for so long now that crypto has gone through so many like big run-ups, and there’s a correction and then a big, big run up and a correction. I think that’s happened five times now.”
He further added:
“So we’ve just kind of come to accept that this business is going to be very cyclical and we’re going to grow very deliberately and carefully through all these ups and downs. Like I said earlier, I want everybody to have a long-term view.”
Brian stated that he is more concerned about the expansion of cryptocurrency and how to reach out to 5 billion people and get them to use it in five years than the price fluctuations.
The Co-Founder of Coinbase also spoke about the surge in the price of BTC and other cryptocurrencies and ‘insane’ engagement on the platform which occurred in the Q4 of last year. This has resulted in all the mainstream media channels speaking about cryptocurrencies since then on a daily basis.
Brian Armstrong said:
“You know, I think its good. Like I’ll take it. I think sometimes the focus is a little bit misguided in the sense, that again, its all about the price and the run-up, you know, so many people are being introduced to cryptocurrency that I think that’s great marketing and it’s certainly driven a ton of growth for Coinbase.”
He further said that managing the company during the price surge is “really interesting”. He stated that the reason behind this is it ‘feels’ like the whole world is on fire.
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