Bitcoin Digital Wallet Blockchain Hits 1M Users

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Jan. 6 (Bloomberg) -- Nicholas Cary, CEO at Blockchain.info, discusses the rise of bitcoin and his company’s growth as an online wallet for the digital currency on Bloomberg Television’s “Bloomberg Surveillance.”

What does that mean exactly?

Pinkie so much for having me.

It is a pleasure to be here.

I do not know if you checked the price of that coin, but it might have been wise to buy one before the holidays.

We are the premier bitcoin wallet.

We're the first online wallet to reach one million users.

This is a historic a compliment.

Never have we seen so much traffic.

It is a real validation for the entire industry.

Is a validation, charles?

Anytime you get one million downloads, that is progress.

There are questions about the business model.

Your biggest question is?

We have a pretty good currency system as it is.

What are the efficiencies gained by having a bitcoin wallet?

There are plenty of efficiencies to be gained.

In terms of how the bitcoin works, it is a 100% bitcoin only business.

We pay our employees in bitcoin.

The entire company operates that way.

We have sold advertising.

We have hundreds of millions of views per month.

We have sold the advertising for bitcoin.

The price went up fivefold since then.

That made our deal even more valuable.

We are in a special position.

Is that how you make money?

By advertising?

We are a 100% free service.

Anyone can sign up.

There is no cost to them.

That allows them to send to anyone on earth.

We are a free service.

We have a chart of the growth up to one million.

This is nose apprise.

It has been within the last 18 months or so.

Anytime somebody looks at this chart, they think are we here getting into a speculative bubble?

What is your argument that this is not?

There is an old proverb that the second best time to plant a tree as today.

We are still in infancy.

We have seen a lot of maturity.

Best men's and lots of companies moving in.

We're going to see even more maturity and this year will be huge.

The amount of energy and off to miss him and intellectual capital moving into bitcoin is astronomic.

You're right, we have seen parabolic growth.

We are seeing it accelerated move more quickly.

The whole number is unknown.

We're watching companies lead the way and get one million users.

That shows that there's real value for companies to get into this space.

I anticipate more money moving into it.

Charles, does this not like a trend that will go from the fringes into the mainstream?

I do not see a yet touching the mainstream.

Who knows will happen next.

It is a challenge.

You hear the skepticism.

We had a former ceo of paypal al right college hog wash.

-- call it hogwash.

Do you think there is a structure that benefits and some stains -- sustains the efficiency of what you're doing.

In a lot of ways that is true.

I saw that interview as well.

I have a different opinion than he does.

Realistically, in the next year, and there is a lot of obligation for software companies to build amazing technology.

There was a real tip of the spear in the last 18 months.

We had a lot of people who are tech forward.

The next group of adopters will be regular folks.

They want a more convenient way to make transactions happen.

Especially online.

Instead of your private information, you can make a payment and get goods and services without having to use credit card companies.

There are efficiencies to be had.

I think the whole challenge is to grab that mind -- share.

That is one of the things that we will do.

Thank you so much.

They carry of block share.

I do not think it is a foreign exchange.

That is a different discussion.

These guys, i get the efficiency.

I get the tech savvy angle.

I do not suggest it is transferable to the broader public.

You have any optimism that rotter technology will pick up bitcoin?

I am not that optimistic.

It is too volatile.

There is paypal.

If american express wanted to do

This text has been automatically generated. It may not be 100% accurate.

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