Mining Firm Argo’s CEO Says that Bitcoin’s Censorship Resistance will Boost Its Mass Adoption
The CEO of a mining company called Argo, Jonathan Bixbay, stated that cryptocurrency demand has suffered from the bearish market, but there’s still hope for mass adoption.
Bixbay believes that the affiliation of normal cryptocurrency market users is still in its infancy, since majority of them are early adopters. He sees the main problem affecting the industry being misconception with blockchain technology and cryptocurrencies, further noting that people need to understand what the fintech industry entails.
Bitcoin Has Censorship Resistance
The current market scare, according to the CEO of Argo, was a perfect example that centralized financial systems have faults and an overwatch is essential. He noted that one of the pressing problems when it comes to centralized exchanges is deliberate censorship and taxations, pointing out that Bitcoin, in particular, has censorship resistance considering that it’s based on a fully decentralized system.
Jonathan Bixbay was also talked about regulations being placed on cryptocurrencies such as Bitcoin, focusing his argument on moves by the U.S. Securities and Exchange Commission (SEC) and its decisions on ETFs. He was quick to note that people need to know what they are investing in and not blindly follow the herd.
Based in Quebec, Canada, Argo is a mining company that provides people with a cheaper and easy way to mine cryptocurrencies. The company made headlines recently when it raised $32 million in a London Initial Public Offering (IPO) to facilitate its mining operations. Bixbay had this to say:
“Argo’s admission to the London main market is a major step in the company’s development and will put us in a strong position to execute our long-term growth strategy. We are delighted with the strong response from investors which will enable us to grow our business in multiple jurisdictions.”