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Interview
Lars Seier Christensen, founder of the Danish Saxo Bank, has made millions of exchanges with BTC, but as CEO of a bank, he has had difficulty convincing his staff to offer cryptographic services. Now he is waiting on the sidelines for another panic sale before returning to cryptocurrency.
Read also: Saxo Bank offers notes traded in exchange with Bitcoin
"Our current system is profoundly inefficient"
The fifty-three Danish banker Christensen, also known as Stig, claims to have always had onelibertarian series "and is critical of the current banking system, he explained that after spending 30 years trading in fiat currency, he is naturally fascinated by all significant innovations in the realm of currencies. <img class = "alignright wp-image-263085 size-medium” title=”Lars Christensen, founder of Saxo Bank, is awaiting a collapse of cryptocurrency panic” src=”https://news.bitcoin.com/wp-content/uploads/2018/12/lars_concordium-1-1-300×172.jpeg” alt=”Saxo Bank founder Lars Christensen is waiting for a cryptocurrency panic sell-off "width =" 300 "height =" 172 "srcset =" https://news.bitcoin.com/wp-content/uploads/2018 / 12 / lars_concordium- 1-1-300×172.jpeg 300w, https://news.bitcoin.com/wp-content/uploads/2018/12/lars_concordium-1-1.jpeg 632w "sizes =" (maximum width: 300px) 100vw, 300px”/>
"There are many ways in which our current system is profoundly inefficient and can be improved, both through better delivery of legal currencies and asset-backed tokens, and with true cryptocurrencies – it's all about mainstream adoption and if it's a real reserve of value argument can be resolved in the long run or if speculation and high-speed utility prevail, "said Christensen.
His he described the banking sector as "old wine in new bottles, not so different from the past" and believes that through the adoption of new technologies things can be significantly improved.
Crypto Gamble pays out as Christensen gets the last laugh
Christensen made an initial investment in BTC, buying when the price was $ 100- $ 400 five years ago. He then grossed over one million dollars when BTC reached $ 6,300 in 2017.
"This was just before the closing rally in the last part of the year, so for a while I felt like an idiot, particularly because the main Danish financial paper is not aware of this. and he has published a front page story about my sale! But now I look a little smarter, I guess … I have not invested in cryptocurrencies like BTC and ETH since then, "said Christensen.
Christensen explained that he will jump back into the crypt again if prices drop significantly. BTC it was not the only thing he sold; Last year the Danish also sold its stake in Saxo Bank to Chinese billionaire Li Shufu.
Looking for gold nuggets
<img class = "alignright wp-image-223590″ title=”Lars Christensen, founder of Saxo Bank, is awaiting a collapse of cryptocurrency panic” src=”https://news.bitcoin.com/wp-content/uploads/2018/10/ethereum-300×300.png” alt=”Saxo Bank founder Lars Christensen is waiting for a cryptocurrency panic sell-off "width =" 179 "height =" 179 "srcset =" https://news.bitcoin.com/wp-content/uploads/2018 / 10 / ethereum- 300×300.png 300w, https://news.bitcoin.com/wp-content/uploads/2018/10/ethereum-150×150.png 150w, https://news.bitcoin.com/wp-content / uploads / 2018/10 / ethereum-768×768.png 768w, https://news.bitcoin.com/wp-content/uploads/2018/10/ethereum-1024×1024.png 1024w, https://news.bitcoin.com / wp-content / uploads / 2018/10 / ethereum-696×696.png 696w, https://news.bitcoin.com/wp-content/uploads/2018/10/ethereum-1392×1392.png 1392w, https: // news .bitcoin.com / wp-content / uploads / 2018/10 / ethereum-1068×1068.png 1068w, https://news.bitcoin.com/wp-content/uploads/2018/10/ethereum-420×420.png 420w, https : // news. bitcoin.com/wp-content/uploads/2018/10/ethereum.png 1600w "sizes =" (maximum width: 179px) 100vw, 179px”/>"On the more speculative side of things, I'm looking for a panic ending in ethereum, say under $ 25, where I'll be tempted to take a while and wait patiently for a possible revival. I'm also looking at a couple of serious fund vehicles that do extensive research throughout the space. Because obviously there will be some gold nuggets that have been unfairly dragged into this bear market as in all bear markets, and even in traditional asset classes, "Christensen explained.
After resigning from the head of the bank, Christensen is now busy with the launch of a new blockchain business, Concordium. "It's fascinating for me to try and do the same [role as I formerly held] in this area. I believe that Concordio could be an important turning point for the industry and help the true DNA of public blockchains move to the next level, "he said.
Attention to further crypto regulation
Having been involved in retail derivatives trading for over 25 years and having built a platform in the cryptography sector, Christensen believes he has had a front row seat from which to observe how the regulations have developed in the foreign exchange space and of derivatives from the years & # 39; 80. He warns that similar developments will be seen in cryptocurrencies and believes that almost all existing encryption projects are ill-prepared for this. In his view, a further regulation of cryptocurrency is inevitable and inevitable.
Do you agree with Christensen that the current cryptosystem is profoundly inefficient and can be improved? Let us know in the comments section below.
Images courtesy of Shutterstock.
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