Bitcoin got the backing of a critical figurehead on Wall Street this week.
Jeff Sprecher, chairman of the New York Stock Exchange and CEO of its parent company, Intercontinental Exchange, said that despite headlines of cryptocurrencies flopping, digital assets have a future in regulated markets.
When asked about the dropping prices, Sprecher brought up a perennial question posed by critics: "Will digital assets survive?"
"The unequivocal answer is yes," he said on stage at the Consensus: Invest conference on Tuesday. "As an exchange operator it's not our objective to opine on prices."
Sprecher's Intercontinental Exchange, along with Starbucks, Microsoft and BCG, is backing a new company called Bakkt that will facilitate bitcoin futures trading by the first quarter of next year. The initial launch was set for November 2018, but the company announced last week it would push that debut back to January.
Kelly Loeffler, chief executive officer of Bakkt, gave some details on the decision. She explained that the original timeline was ambitious and the customer pipeline filled up quickly.