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Barry Silbert Invests in Bitcoin, Predicts it Has Bottomed for the Year

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At the 8th Delivering Alpha Conference in New York yesterday (July 18th), there was one big Bitcoin bull on show, as Barry Silbert, the CEO of Digital Currency Group, told the conference that he has recently invested in Bitcoin.

I think we’ve probably hit the bottom for the year. I actually put some money into bitcoin last week. As an asset class it is here to stay… I’m 100% confident a decentralized, non-fiat form of money is here to stay.

As well as owning CoinDesk, Digital Currency Group has invested in Coinbase, Ripple and Circle among many others, over hte three-year period since its founding. In the same session, Circle’s Jeremy Allaire backed blockchain, saying that it represented the new layer of infrastructure of the Internet.

Among the other attendees at the conference were controversial former Trump advisor Steve Bannon, who was talking about “trade wars” with China. If nothing else, his presence will have reminded attendees that the CNBC-presented Delivering Alpha Conference is as much about individual investors as it is corporations.

Meanwhile, there have been some indicators that Bitcoin could be on the rise again. Check out our own price analysis for Bitcoin right here for more details.

Image Credit: CNBC

Has Bitcoin hit its bottom? Is a bullish run on the way? Let us know your thoughts in the comments section.

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