Alibaba founder Jack Ma. (Image by Wang He/Getty Images)
20 %people and make 80 %of revenues. New banks ought to service 80 %, and make 20% of profit,”said Ma.Ma’s most current views on bitcoin are nearly a direct replica of comments he made last month at the World
Intelligence Congress kept in Tianjin, China.According to the South China Early Morning Post, Ma stated at the forum that”there is no bubble for blockchain, but there’s a bitcoin bubble”. At that time, bitcoin was
trading in a range between$US7-8000. The cryptocurrency dealt with more downward pressure in June and briefly dipped below$US6,000 over the weekend before rallying.He added that blockchain represents a solution for security and privacy, as well as processing capabilitiies for the millions of transactions that Alibaba finishes each day.The SCMP reported that Alibaba made the most blockchain patent applications on the planet in 2015 with 43, ahead of Bank of America with 33. Ma’s views are representative of the diverse viewpoints towards bitcoin among the world’s financial elite. Tech billionaire Peter Thiel believes in it, while Warren Buffett thinks it’s rat poison.Meanwhile, equity capital company Andreesen Horowitz simply announced the launch of a$US300 million fund to invest in crypto. Wish to read a more in-depth view on the patterns influencing Australian company and the global economy? BI/ Research is developed to assist executives and market leaders comprehend the significant obstacles and opportunities for industry, innovation, strategy and the economy in the future. Register for free at research.businessinsider.com.au.