Canada is becoming a bitcoin and cryptocurrency center
Frick said Canada is emerging as the center of bitcoin and cryptocurrency, which has created a “virtuous circle” of mutually reinforcing expertise and business. The country has a capital market ecosystem that supports small companies, especially the TSX Venture Exchange.
Although the system used to be primarily for miners, oil and gas companies, at least eight cryptocurrency-related stocks are currently traded in Canada.
Frick said that both the University of Waterloo and the University of Toronto are “hotbeds” of crypto-currency and blockchain industries. In 2013 Russian Vitalik Buterin attended the University of Waterloo near Toronto, before introducing the Ethereum blockchain to the world.
All that made Canada “well-positioned” as a key center for these tech companies, Frick said.
Bitcoin surged to more than $ 15,000 on Thursday and rose to more than 50% this month, sparking concerns about the digital currency bubble. Frick said he is not worried about the long-term viability of the market, despite the market’s volatility.
“I believe bitcoin is a new and emerging asset,” he said. “All bitcoin is making math the central bank governor.”