Marcus Swanepoel: Bitcoin is bought for investment, not for payments

Luno cryptocurrency exchange CEO Marcus Swanepoel expressed the opinion that 90% of users use Bitcoin for investment or speculation, not for payments.

In an interview with CNBC, Swanepoel said that only a small part of the first cryptocurrency users use it for transactions and payments in the real world.

"Roughly about 90% I would put into the category of investments slash speculations, so it could be people who have a long term view on it, people who like to trade it and about 10% would be transactions," 

said CEO of Luno.

Swanepoel also emphasized that portfolio managers should pay attention to cryptocurrencies. Even if the risks are high, the potential return on such an investment can be astronomical.

Recently, the head of the Kraken cryptocurrency exchange unit, Nelson Minier, noted that portfolio managers, hedge funds and other institutional investors would soon turn to cryptocurrencies. He called the cryptocurrency market "the new Wall Street." 

SOURCE