CME Group Chairman Emeritus: Bitcoin is not a Cryptocurrency, but a Whole New Asset Class CME Group Chairman Emeritus believes that Bitcoin is more than just a cryptocurrency. He stated this in a conversation with Reuters this Tuesday.

Honorary Chairman of CME Group: Bitcoin is not a cryptocurrency, but a completely new asset class

The CME Group Chairman Emeritus believes that Bitcoin is more than just a cryptocurrency. He stated this in a conversation with Reuters this Tuesday..

According to Leo Melamed, bitcoin represents a completely new asset class, which in the future will be on a par with gold and stocks. To help bitcoin grow in this role, CME Group is about to launch regulated trading bitcoin futures, says Melamed.

“This is a very important step in the history of bitcoin. We will regulate bitcoin, curb its savagery, turn it into a professional trading tool, ”he said..

Melamed himself was initially skeptical of cryptocurrency, but now sees similarities between the futures that CME Group is going to launch today and the currency futures of the International Foreign Exchange Market, which he launched as chairman of the Chicago Stock Exchange in 1972..

“In the 70s, the world did not consider trading in currencies a full-fledged instrument of financing. I also refused to believe [in bitcoin], and now I want to know more about it, "he said.

The Honorary Chairman of the CME Group, who turned 85 this year, notes how important it is not to slow down the development of new technologies and to take advantage of them. In the case of Bitcoin, he sees advantages in the absence of centralization and intermediaries, which can significantly reduce transaction costs..

“My whole life is filled with new technologies. I've never given up on technology. People who say technology no are not far from death. I'm still the same guy who believes that change is at least worth exploring. It is with this technology and Bitcoin appears", - he summed up.

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