Bitcoin Hitting Wall Street!
Financial Services Taking Bitcoin To Wall Street
Bitcoin has been the top cryptocurrency since the boom from 2017. With the popularity of Bitcoin, companies who take initiative in the acceptance/integration of it into their business model will capture more of the market. Bitcoin is inching its way into Wall Street where it can grow into something big.
Goldman Sachs Move With Bitcoin To Wall Street
Goldman Sachs, leading global investment banking, securities, and investment management firm, is looking into the setup of a Bitcoin trading operation at a Wall Street. There is no set date on when this operation will be operational but this announcement has hit the Bitcoin market hard. This movement could set them to gain a first mover initiative being one of the big players in the market. This move also pushes the idea to the public that cryptocurrency such as BTC can be trusted.
With Goldman Sachs, such highly reputable investment banking and financial service company taking on Bitcoin, it wasn’t long before other financial firms to take on this acceptance. Fidelity Investments, a multinational financial service corporation, is looking to follow in the tracks of Goldman Sachs movement towards the setup of a cryptocurrency exchange. This movement is not something new for Fidelity as they are already a crypto friendly company. Fidelity is already partnered with Coinbase, a digital currency exchange, in order to allow their clients to store BTC in their accounts.
Many individuals are very skeptical of how the financial sector will take on cryptocurrency as a whole. There are many financial institutes such as BMO and TD which have banned users in the use of their services to buy and sell crypto while financial service providers such as Goldman Sachs and Fidelity is very welcoming of crypto. With the market being separate, it will take a while before the world fully takes on the adoption of crypto. This split market is leading to the instability of the pricing of cryptocurrencies such as Bitcoin, Ethereum, and Ripple.
You should dive into cryptocurrency before the market stabilizes and the price of cryptocurrency rises. Once the world fully understands the use and adaptability of cryptocurrency, the adoption rate will increase at a very fast past which leads to a higher will demand in crypto and in turn increase the price. In our previous blog we covered that mining cryptocurrency is more beneficial than to buy and sell, so start your mining operation today! Contact MiningSky for a quote and jump on the train of cryptocurrency mining before it is too late.