First mentioned: 22/11/2013
Last mentioned: 04/10/2016
Total mentions: 5
Most mentions: 2013
Sir Richard Branson, a prominent British entrepreneur and commercial astronaut, is the visionary founder of the Virgin Group, overseeing a diverse portfolio of more than 400 companies across various industries. Recognized for his exceptional contributions to entrepreneurship, he was knighted in 2000. Furthermore, his influential impact on the global stage was acknowledged in 2007 when he earned a spot on The Time 100 Most Influential People in the World list.
Sir Richard Branson on Bitcoin
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On his private island, Necker Island, Branson organized the Blockchain Summit and extended a warm welcome to diverse speakers and media outlets. During the event, a Bloomberg reporter inquired about Branson's perspective on the viability of Bitcoin. In response, Branson shared the following: "Well, I think it is working. There may be other currencies like it that may be even better. But in the meantime, there's a big industry around Bitcoin. - People have made fortunes of Bitcoin, some have lost money. It is volatile, but people make money off of volatility too."
While certain individuals opt to retain their Bitcoin, others lean towards utilizing and spending it. Branson engaged with these enthusiasts in a tweet, hinting at the possibility of accepting Bitcoin as a payment option for his company Virgin Galactic. This spaceflight enterprise specializes in developing commercial spacecraft for suborbital spaceflights aimed at space tourists. "Want to spend your #bitcoins? How about a ticket to space! Will discuss today like on @SquawkCNBC @virgingalactic
Bitcoin can be a volatile currency, meaning the price fluctuates throughout the day. However, Branson remains unfazed, expressing confidence that the price will eventually stabilize at a significantly higher level. "There have been spikes and lows. But I think one day it will settle at a price that, I personally believe, is higher than the price today."
In 2013, Branson expressed to CNBC that Bitcoin's principles provide a 'feeling of security.' With a capped supply of 21 million Bitcoins, no extra coins will be produced, ensuring a fixed supply. This intentional design choice aims to prevent inflation and enhance value over time, setting Bitcoin apart from conventional currencies vulnerable to inflation and central bank manipulation. "I think the fact that there's going to be a limited number of bitcoins out there and it will fundamentally be capped - unlike normal currencies where governments can print more currencies - gives it a sense of security."
In the interview with CNBC, Branson affirmed that Virgin Galactic would embrace Bitcoin as an alternative payment method in 2013, positioning the company among the pioneers accepting the currency. Branson justified this decision in a blog post, stating that it aligns with the tech-savvy profile of his customer base, many of whom also possess Bitcoin. "Billionaire entrepreneur Sir Richard Branson announced on CNBC's "Squawk Box" Friday that his commercial space flight venture will accept bitcoin as payment. He called it "an exciting new currency."
