Bitcoin's volatility is 'here for a long time,' says former NYSE President Farley

Core Insights - Bitcoin's volatility is expected to persist, with a significant amount of Bitcoin mined annually and the need for incremental buyers to stabilize prices [2][4] - The decline in major hacks and frauds in the crypto space suggests a maturation of the industry, with centralized exchanges and custodians becoming more trustworthy [6][7] Bitcoin Market Dynamics - Approximately 160,000 Bitcoin are mined each year, equating to around $15 billion in value, necessitating consistent demand from buyers [3] - MicroStrategy was a significant buyer in the past, purchasing 180,000 Bitcoin, but their reduced buying activity has contributed to increased market volatility [4] Security and Infrastructure - The frequency of hacks has decreased significantly, indicating improvements in the security infrastructure of crypto companies [5][6] - Despite ongoing risks, the perception of cryptocurrencies as an institutional asset class is growing, with more reliable exchanges and custodians emerging [6][7]