MittGroup CEO Grant Mitterlehner tells Neil Cavuto Bitcoin is ‘the new gold.’
Bitcoin was trading 2% lower Wednesday morning.
It was around $59,190, trading below its all-time high of $68,950 per coin, which it hit earlier in the month.
Rival Ether, the world's second-largest cryptocurrency, was trading around $4,180.
Dogecoin was trading around 23 cents per coin, according to Coindesk.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Meanwhile, a major player in the cryptocurrency world is calling for rules for the industry to follow.
Binance, the world’s largest exchange for trading Bitcoin and other cryptocurrencies, says it’s time for global regulators to set guidelines for crypto markets.
It released a list of "10 fundamental rights for crypto users" this week that it wants to guide discussions with regulators, policymakers and other exchanges.
Binance CEO Changpeng Zhao, who goes by "CZ," says more regulation for the industry is inevitable, and this allows his company to play a role in the discussions. It may also help draw in people who are still hesitant to get into crypto, according to The Associated Press.