Quick hide your cryptos, the Banksters are coming!

I have long believed that institutional money could be anything but good for Crypto. The news about Goldman, Nasdaq, NYSE and others rushing to set up crypto (read BTC) desks concerns me on several levels.

First, BTC was designed to solve the kind of problems that the greedy banksters bring to the market place. By excluding them.

Secondly, knowing that the banksters and the corrupt regulators constantly collude to fix the markets to their benefit doesn't necessarily fill me with confidence that they won't bring those bad habits to the crypto markets, only this time turbo charged market fixing.

Third, BTC futures and other "ingenious" ways of trading BTC and other crypto that don't actually involve the purchase of the coins nor tokens will not be introducing any new money onto the market. That money will instead be used to drive the market to the area where the bets are headed. Not good.

The only institutional money that should welcomed has to be from the pensions, mutuals and other long term investors. Forget the gambling short termist banksters.