John Carvalho: “There is no need to launch a Bitcoin ETF”

Director of Public Relations at BitRefill, John Carvalho, expressed the opinion that ETF for Bitcoin is not necessary.

"I don't think Bitcoin "needs" an ETF. I'm not sure it will be the catalyst for new money that people hope for either. If a person or entity wants exposure to Bitcoin, they already have options. I'm also not a big fan of large central custodial pools of Bitcoin, it's a recipe for disaster," said Carvalho.

Top manager of the company from Silicon Valley said that the emergence of a second-level solution for the Lightning Network for Bitcoin made the first cryptocurrency faster and safer for users than the vast majority of other coins.

"Definitely, the Lightning Network really expands Bitcoin's utility and capacity for transacting. This isn't just about being fast, cheap, micro, or high frequency either. We will see new things built on top of Lightning in many of the ways people have been off-the-mark with other blockchains, things like tokens, privacy, streaming payments, and more," said Carvalho.

In his opinion, the "success" of any cryptocurrency is a subjective concept and the blockchains of many projects feel great even with a small amount of transactions. However, cryptocurrency can play a much more important role in the global payment infrastructure.

Earlier, CEO of the hedge fund Tertras Capital, Alex Sunnarborg expressed the opinion that at the moment there are too many initiatives that can affect the price of Bitcoin, whether it is the launch of the Fidelity and Bakkt platforms, or the ETF approval.

SOURCE