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‘Multi Billion-Dollar Idea’: Australian Tech Entrepreneur Plans Crypto Bank Launch

Fred Schebesta, a 26-year old entrepreneur who co-founded comparison website, wants to open a crypto bank in Australia. Schebesta believes that interest in cryptocurrency is growing and soon people will need an institution which can fulfill their crypto needs. In an interview with Australian news website, Schebesta said that he didn’t care much about the current price of Bitcoin. According to him, people have been calling Bitcoin a bubble when it was worth $10, $100 and even $1,000.Due to the volatility in the price of Bitcoin and other cryptocurrencies, people believe that interest in crypto has lessened. However, Schebesta explained that people are only upset at the sudden decline, which doesn’t mean that interest in it has died down. He, like other Bitcoin advocates, believes that Bitcoin bears similarities to gold.“We just saw a massive spike in retail investors coming on board. That’s why everyone bought and they sold and everyone’s really angry,” said Schebesta. The trick here is to wait and watch the story unfold. Schebesta added that if people still think Bitcoin is worth nothing, they can simply send it to him.


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