Peter Briger believes that Bitcoin believes that Bitcoin is the way of the future when it comes to exchanging money between countries. It is relatively secure and those who use it do not have to worry about complications with exchange rates and other problems. In fact, Peter Briger is so confident in the future of Bitcoin in banking that he is proposing a regulated exchange for Bitcoin. This project would be the first of its kind in the United States and he is hoping that financial institutions will get on board with his idea. As the co-chair of Fortress Investment Group’s board of directors, Peter Briger has had a lot of experience in the financial industry.
After learning more about Bitcoin during a field trip with entrepreneurs and other big players in the financial industry he realized that Bitcoin could be a lot bigger than just the currency of choice for shady deals on the internet. Bitcoin and other forms of cryptocurrencies were essentially new financial networks that spanned the globe and could process transactions immediately. Despite the fact that you can speak to almost anyone in the world in HD video through a telephone, there were still a surprising amount of issues surrounding transferring money. It didn’t make sense to Peter Briger that it was easier to watch someone live than it was to send them a few dollars.
Bitcoin is changing that and the results appear to be incredible so far. With the right direction and development, one day the networks that cryptocurrencies such as Bitcoin are built on could replace the ones used in traditional banking. While he was still at the ski resort, Peter Briger immediately started emailing the staff at Fortress Investment Group to find out what they knew about the Bitcoin technology. As soon as he returned home to San Francisco he jumped into the Bitcoin market by opening up his own account Mt. Gox. The value of his account quickly reached around $100,000. At Fortress Investment Group, he started brainstorming with colleagues about how they could get into the market of Bitcoin as a company.