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Yahoo Co-Founder Jerry Yang is a Believer in Bitcoin as Currency

• https://www.cryptocoinsnews.com

Yahoo co-founder believes digital currencies will play a significant role in the future of society, even though bitcoin isn't "quite there yet".

Speaking at the sidelines of the Fortune Global Forum in China, Yahoo co-founder Jerry Yang drew parallels to bitcoin's volatility and technology stocks from the "early days of the internet". Refreshingly, the early internet pioneer opted to speak about bitcoin as a currency rather than the go-to narrative of its value at a time when bitcoin price struck a new all-time high of $15,000 today.

"Bitcoin as a digital currency is not quite there yet," he told CNBC. "People are not using it to transact. People are using it as an investable asset."

Notably, he added:

I personally am a believer in where digital currency can play a role in our society. Especially in, not only the front end of doing transactions but also in the backend of creating a much more efficient system and a much more verifiable system.

Yang's remarks about digital currencies like bitcoin ring a similar tune to those offered by Apple co-founder Steve Wozniak who sees bitcoin as a cryptocurrency that is "more genuine and real" than the U.S. dollar and superior to gold as a store of value.

"But for now," Yang added, "it seems like [bitcoin] is more driven by the hype of investing and getting a return rather than using it as transactional currency."

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