More than one million people have signed up to try and trade currencies in a matter of days. A mobile trading app has been released by Robinhood and they have announced the features that are available. The co-founder of the app was bullish on the Bitcoin even though the price has declined over the last few months. He has also come out to say that the asset has the ability to stay in power.
Tenev, the co-founder of Robinhood has come out to say that Bitcoin has fluctuated over the last few months, but that being said, it has followed a very similar pattern so far. He believes that it is foolish to say that it is done. Robinhood is actually a micro-management app and it is completely focused on trading and financing. The app gives access to those who want to access stock trading and even the stock market as well. The app jumped on the bandwagon earlier in the month by adopting cryptocurrency, and things have been going great ever since. Tenev came out to say that brokerages often went down for days at a time, and that with people being so focused on stability and reliability, this created a very bad situation. They were however, able to sustain customer orders in the hundreds and thousands. They could do all of this in a single day, which is one of the many reasons why the application is so highly sought after. He has also stated that people have become part of the Robinhood system because of the cryptocurrency feature.
That being said, he has also stated that blockchain is now overrated. He believes that start-ups across the world are trying to adopt decentralised ledgers because of the latest trend and nothing more. He has also come out to say that normal ledgers and databases would often be enough in a lot of situations as well.
Tenev has also admitted that he wants to be a market leader over the next few decades, and that he believes that Robinhood has the ability to do this with ease.