News reaching TechNewsLeader.com indicate that the owners of the New York Stock exchange are mussing over the possibility of letting customers buy and hold Bitcoin (BTC) on their yet to be disclosed virtual currency platform. This is after cointelegraph.com ran an article today and the New York Times reported late yesterday, on the same.
This move comes after Goldman Sachs announced that it will start to offer Bitcoin Futures. This announcement was made five days ago and indicated that the investment firm will be using its own money to trade the futures on behalf of its clients. Goldman Sachs decided to take the calculated risk that is the cryptocurrency industry.
This follows a trend of big shot Wallstreet firms warming up to Bitcoin, cryptocurrencies and blockchain technology. Just two days ago, TechNewsLeader.com reported that J.P Morgan Chase had applied for a blockchain patent last October.
The parent company of the New York Stock exchange has been designing and working out the kinks to what is believed to be an online trading platform that will allow large investors to buy and hold bitcoin. The New York Times reported that they had seen emails and documents pertaining to this possibility and had contacted four confidential people who were privy of this information.
Intercontinental Exchange, being the parent company of the New York Stock Exchange, and by having this new platform, will be directly endorsing Bitcoin and cryptocurrencies as alternative and viable forms of investing.
Should we pop the champagne or amass more Crypto?
From the point of view of a crypto HODLer, trader and writer, it is okay to do both. For those who have been having nightmares about the possibility of cryptocurrencies dying, this is confirmation that they are here to stay. So, pop some champagne.
But do not spend all your capital on the partying. No. It is time to amass more crypto for the next few weeks, months and years will see the entry of more and more mainstream investors and the regular baker, bartender and hair stylist owning Bitcoin or even Verge (XVG). The limit is Pluto, not To the Moon anymore!
Current market analysis puts Bitcoin (BTC) at a value of $9,141. The King of Crypto had shown signs of reaching the much anticipated $10,000 value but fell shy of the marker after an eventful weekend. Perhaps what is happening is a normal retracement with another rally about to take off. Either way, there is never a better time to get some more crypto in the markets than when all you see is red.