Mastercard ceo opened the war against cryptocurrencies. But the prices of bitcoins have failed to move down. After the negative comment from a corporate biggy it has actually gone up.
Few weeks back Jamie Dimon of Chase Bank called Bitcoins as fraud, now its master card ceo. Citing the example of water bottles he left the message that volatality is not good for currency.
Ajay Banga, CEO of Mastercard, leveled an attack all cryptocurrencies that are not government backed by calling them “junk”.
Virtual currencies are almost direct competition for the payment instruments like Mastercard. when asked his opinion on the future of payment technology, Banga was not complimentary of how things stand at the moment.