JP Morgan Strategist Says Regulated Futures Markets Give Bitcoin Legitimacy

From Cointelegraph

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The decision of US regulators to allow Bitcoin futures to trade on the Chicago Mercantile Exchange (CME) has pushed Bitcoin into mainstream finance. CME obtained the regulators’ go-ahead after self certification, having assured the US CFTC that the products will follow existing law. The move could allow financial institutions with restrictive mandates to take Bitcoin exposure.

Nikolaos Panigirtzoglou, a global markets strategist at JP Morgan, also feels that the move could give legitimacy to Bitcoin. In a note to investors, he said:

The prospective launch of Bitcoin futures contracts by established exchanges in particular has the potential to add legitimacy and thus increase the appeal of the cryptocurrency market to both retail and institutional investors

Read more: https://cointelegraph.com/news/jp-morgan-strategist-says-regulated-futures-markets-give-bitcoin-legitimacy

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As bitcoin becomes more "legitimate" and institutions have ways to invest we will see that price rise and rise. HODL on we ain't seen nothing yet! $100K USD bitcoin here we come!

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