Wall Street, Bitcoin and You
Bitcoin––Will they or won’t they?
That has been the question facing Wall Street for nearly a decade. There are a lot of smart people who work in the financial center and Wall Street can hardly be accused of being anti–technology…
http://money.cnn.com/2018/02/06/investing/wall-street-computers-program-trading/index.html
…but for the most part cryptocurrency has been viewed more as a threat than an opportunity. At least until recently.
The New York Times has reported that the unfortunately named Intercontinental Exchange (ICE) has seen the light and is developing a platform that would allow “large investors to buy and hold bitcoin.” This would go a long way in giving bitcoin legitimacy and credibility in the mainstream financial world. Why? Because ICE is no less than the parent company of the New York Stock Exchange.
Wow. Eat that Warren Buffet.
This of course isn’t set in stone yet, because why should such an obviously good idea have an easy go of it? We’re humans, we must flounder and hesitate!
But Goldman Sachs is also toying with the idea of opening a special in-house unity dedicated to trading bitcoin.
https://www.nytimes.com/2018/05/02/technology/bitcoin-goldman-sachs.html
Luckily Goldman Sachs is being less coy about their intentions, but time will tell if the decision sticks. Nobody gets rich by taking risks! Um…
But it’s obvious that the opinions of the money Gods are changing about the usefulness of bitcoin and cryptocurrency in general. That’s a big deal in itself. Consensus matters, as do the thoughts of experienced, intelligent people. It’s smart to be skeptical, especially about something as complicated and unorthodox as digital moolah. But there is a point when the only way to see if something works is to try it yourself.
Go ahead, Wall Street! Kiss the girl! Take the chance and see what happens. You’ll probably get even richer. Even if you don’t, so what? It’s only money, after all.
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Now crypto is integrating they will buy, because it's not just bitcoin anymore and the utility of crypto is embedding itself in their world now at an incredible rate. When it was just bitcoin and crypto was something separate, that was one thing, now we're seeing the next stage which is quite different. When big players really start entering i think it will be like an avalanche and many of us won't expect that sort of volume.
It is 100% a threat to them, right now they are attempting to slow down the older generations of the public and the banks (Goldman and Morgan) are trying to get ahead of them. they are well behind the newer generations and are just trying to hire them. It is staying quiet because they are making moves under the surface IMO
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Bitcoin and cryptocurrancy is the tow valuable market exchanging system in the world..thanks @writerbackwards for sharing this blog.
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