Major cryptocurrency exchange Bitfinex have announced a new partnership that promises to bring a new wave of institutional investment into cryptocurrency through the Bitfinex platform. According to Finance Magnates, Bitfinex have announced a partnership with Markey Synergy GmbH. Market Synergy operate along a trading platform that allows institutions to trade in cryptocurrencies.
Through this partnership, Bitfinex hope to bring a number of Market Synergy’s clients into the Bitfinex exchange, allowing for a greater level of investment from institutions such as banks and hedge funds. As we know, these are the investors with the money, so in theory, this move by Bitfinex could see an awful lot of money pumped into the markets soon.
According to Finance Magnates:
“Today’s announcement is another signal that Bitfinex plans on increasing its efforts to expand into the institutional trading space. In May of this year, the company confirmed that it was partnering with Connamara, a matching engine technology provider, to create a Financial Information eXchange (FIX) digital asset gateway.”
Moreover, James Banister the CEO of Market Synergy has said:
“We are delighted to have been selected by Bitfinex, one of the world’s largest cryptocurrency exchanges to manage their global connectivity. We have worked very closely with Bitfinex to create a bespoke network with connections to their digital asset gateway for professional traders.”
See the full article for yourself, here.
How might this see Bitcoin to the moon then?
It’s clear that through Market Synergy, new investment will come into the markets via Bitfinex. Of course, this investment will be on an institutional level so therefore we can assume that investment will come in large volumes (they aren’t just going to buy one Bitcoin at a time), through this, Bitcoin (and others) will see a value increase through this increased buying, pushing the price up.
It’ll take some huge investments to take Bitcoin up to $20,000.00, so it’s unlikely that we will see that yet, but hey, you never know do you.