Bruce Fenton appointed as new Bitcoin Foundation director

Bruce Fenton, a veteran bitcoin activist, has been elected as the Bitcoin Foundation's newest executive director by 5-to 1 vote. He succeeds outgoing executive director Jon Matonis and interim executive director Patrick Murck.

He said that his greatest contribution to the organisation would be his ability to serve as a link between the foundation's individual and corporate members. Fenton further stressed that with his appointment, the organization and its divided board would be able to move forward on the challenge of finding yet another new direction, within six months to focus only on core development.

"I am going to do everything I can to make sure it stays in the black. Certainly we are not in the situation we were in when [the price of] bitcoin was much higher. I'm not going to second guess past decisions, I'm sure there were mistakes made", Fenton told CoinDesk.

He added that he expects to receive complete details of the organization's financials in the coming days.

"I believe bitcoin is going to be very, very important in our world. I think the Bitcoin Foundation can and will have a valuable role in that process in terms of being an important part of our industry," he added.