Are the three major Bitcoin companies leaving Bitcoin? Official response: It’s completely false

In a series of recent media reports, some Bitcoin industry startups have faced some public pressure, as they have been portrayed as companies moving away from digital currencies and toward broader FinTech applications.

For example, in the reports of Business Insider and The Guardian, three industry startups, BitPay, Circle and Uphold, were accused of turning their backs on the technology of digital currency. This week, social media forums became a place for the community to vent their dissatisfaction because of the inflammatory language in these reports.

“Bitreserve, once a bitcoin wallet and exchange, has rebranded as ‘Uphold’ and is now determinedly trying to consign its history to memory,” the Guardian wrote.

The question now is, are many news reports too enthusiastic about the characteristics of the Bitcoin industry's development trends? Or are the models of the companies that originally centered on Bitcoin completely different from what they say to the media and to the community?

Reddit user 'Eragmus' commented:

“This company is completely duplicitous.”

The flames also reached BitPay and Circle, which Business Insider accused of abandoning their bitcoin products and turning to blockchain in order to acquire new users.

Such reports clearly do not understand the nature of the Bitcoin blockchain. However, the report also successfully tells us one thing, that is, industry startups have the responsibility to explain this technology to mainstream users.

Clear stance

In a statement following these reports, Uphold said that the reports of the company leaving Bitcoin were false. Uphold CEO Anthony Watson defended the company's Bitcoin strategy on Twitter, telling his followers that the company has no plans to withdraw from the digital currency.

Watson said:

“First, Uphold is the cheapest place in the world to buy Bitcoin. Contrary to recent media reports, Uphold is not leaving Bitcoin. We are doing so now and will continue to support this digital currency in the future. It is one of the many currencies and commodities we support.”

Circle came out to clarify

Watson's company is not the only one in the industry that is "rumored" to be leaving Bitcoin.

Jeremy Allaire, CEO of Circle Financial, also explained his company’s business strategy regarding Bitcoin on Twitter, referring directly to the Business Insider article:

@OscarWGrut's view on @circlepay's strategy is not accurate, in fact Bitcoin would be more successful if more companies used it without realizing it — Jeremy Allaire (@jerallaire) November 22, 2015

Bitcoin payment processor BitPay was previously reported by Coindesk to have laid off employees in September, following which media reports said the company was distancing itself from digital currencies.

BitPay also defended the company’s strategy on Twitter, noting that they still support Bitcoin’s original vision, which envisioned a peer-to-peer payment system.

"We believe in this vision," the company wrote on Twitter.

Original article: http://www.coindesk.com/bitcoin-startups-face-backlash-for-perceived-pivots/
By Yessi Bello Perez
Compiled by: Satuoxi
Editor: Satuoxi
Source (translation): Babbitt Information