ConsenSys CEO Joseph Lubin calls Cryptocurrencies a “Good Bubble.”
Editorial Team

Joshep Lubin is the Ethereum co-founder and the CEO of blockchain enterprise ConsenSys. According to a report, Lubin said that the cryptocurrency market is “totally a bubble.”

Nevertheless, clarifying his comment to Bloomberg, Lubin said that is a “good kind of bubble” that arises when a “profound technology” appears, and it is not for people to see fast its “value and vision.”

As reported, Lubin said:

“This technology is so powerful and profound that it is going to change the way IT systems around the world are being built.”

Regarding the recent increase in an all-time high in bitcoin price ($7,601 at the weekend), Lubin added that a correction would assist in “the strengthening” of the industry.

Lastly, regarding the china’s recent restrictions of cryptocurrency trading, he said that he viewed this action as a “pause” and not as a ban, noticing that the intention for regulation in China means its recognition of the significance of the industry.