Susquehanna Exec Promotes Bitcoin
Bart Smith, Susquehanna’s head of digital assets appeared on an episode of Fast Money where he addressed the overarching sentiment towards bitcoin in the finance industry. According to Smith, too few institutions are adopting the digital asset, sharing on the show that financial institutions are “looking on the dancefloor, but nobody’s dancing.”
Smith also discussed the impressive trading volume exhibited by bitcoin lately and mentioned that he had returned to $400 per day after the dip this year. In addition, CME and CFE future are have delivered over the same volume this past week.
Even with the impressive trading volume lately, adoption seems to be a slow process. A few months ago, Smith mentioned that Susquehanna believes “that this technology and this asset is going to change some facet of financial services, and we think [it is] going to exist forever.” But, more action needs to be taken, beyond that of being a bitcoin bull. It is also necessary to keep an eye out for “smart regulation.”
Ultimately, Smith ended the segment by saying “Everyone wants it fast and now . . . but this is a long game, and I think that a lot of things are happening out there where people see the opportunity and we’re going to continue to see intuitional adoption and the plumbing get build so that can happen.”