The relationship between Wall Street and Bitcoin has not always been positive, and at times, it has been downright rocky. But, this could all be about to change as a number of Wall Street big shots are launching different Bitcoin initiatives, which could be a clear sign that cryptocurrency is becoming a contender in the finance world.
At the beginning of this week, the New York Times reported that the Intercontinental Exchange was ‘working on an online trading platform that would allow large investors to buy and hold Bitcoin.” This move could be really positive for Bitcoin and could really help to push Bitcoin into the mainstream financial market.
The Chief Executive Officer of the Intercontinental Exchange, Jeffrey Spreecher, spoke just last month about the possibility of offering digital currency contracts, saying;
“There is a trend here we can’t ignore in my mind, so I don’t discount it.”
There are other top financial firms who are also getting on board with Bitcoin. Goldman Sachs, one of the world’s largest financial firms have also confirmed that they are opening their own trading unit for Bitcoin – a project that is hoping to take off very soon.
These are all pointing in the same direction though, and that is that Wall Street is definitely giving Bitcoin trading a fair shot.
Paul Chou, who is the founder of LedgerX, a popular cryptocurrency exchange said;
“The industry is seeing unprecedented institutional interest for the first time in Bitcoin’s history…I’ve been amazed that the strongest believers in cryptocurrency often start out the most sceptical. It’s a healthy scepticism. But at some point, the perception shifts, and for many institutions – I think we’re finally there.”