Institutions Love The Idea of Bitcoin
Nothing like Bitcoin has ever been created before. Money and currencies (different things) have always been controlled by the powers that be. They have continuously used the printing press to manipulate and inflate currencies with the intention of shifting wealth into the hands of the few.
But now with Bitcoin, we have a money, a currency that isn’t controlled by governments, that can’t be printed at will, and is disrupting the financial industry. And the beautiful thing is the Institutions love the idea of it.
Not many people, nor the banking institutions, know how to deal with Bitcoin, but things are changing. Regulatory hurdles that have prevented institutional investment are eroding, and we are seeing much more interest from the legacy world.
Custody, liquidity, and regulations are the main requirements for institutional investors, and these are being introduced. Some by legacy institutions, even.
Institutions Are Investing In Blockchain for the Next Wave of Adoption
One of Crypto’s main flag bearer’s Coinbase claims that institutional investors are massively investing in the space.
In August last year, Conibase CEO, Brian Armstrong said institutions were ploughing $200-400 million a week. ‘Whether institutions were going to adopt crypto or not was an open question about 12 months ago,” Armstrong said, ‘I think it’s safe to say we now know the answer.’
Intercontinental Exchange (ICE), which owns Nasdaq among other major stock and commodity exchanges, launched their own cryptocurrency exchange, Bakkt, in September 2019.
Bakkt was the first institutional exchange to offer BTC futures contract settled in Bitcoin. This is a huge deal for the Bitcoin market. Read More...