Meet the Man Building the Fort Knox of Bitcoin

Wences Casares, CEO of Bitcoin startup Xapo on Bitcoin's potential:

I think that bitcoin is going to change the world more than the internet did, and I’m very conscious of what I’m saying. I know that it’s hard to imagine, but I truly think that it touches something that matters more to a huge percentage of the world. We don’t see the problem here in America. I think it will take longer to develop, but it will have a bigger impact, by giving the majority of people in the world the ability to affordably safekeep their money.

Casares comparing Bitcoin's potential growth to that of cellphones:

Think of the cellphone. There were never more than 1.2 billion landlines. Then the cellphone came and we’re at 6.3 billion. Why? It’s not because only those people wanted to communicate. The landlines were all post-pay. You need to have credit to get one. The cell phones were pre-paid. Suddenly you could get one with cash. It had nothing to do with technology. It was an economic restriction. Now there are 1.5 billion bank accounts, same threshold as land lines. I think bitcoin will allow us to see 6.3 billion people banking on their cell phones. That’s what’s so exciting to me. That’s a much better world than we have today.

Pretty exciting stuff. Now that we're coming out of the dog days of summer, I think we'll be hearing a lot more Bitcoin news.