Wall Street Woes not Affecting Bitcoin Investments
Wall Street investors are preparing themselves for the worst year in the US stock market since 2008. There are several events contributing to this downfall, including the vague policies outlined by the Federal Reserve. Furthermore, the devaluation of the Chinese Yuan, combined with a crash in oil prices and slower earnings growth, are not helping matters....
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Wall Street has previously not been at the forefront of bitcoin trading in the past. However, that looks poised to change. The approvals of three bitcoin ETFs in the past week have brought about more institutional interest in the digital asset and Wall Street brokers are starting to turn their attention to the cryptocurrency. The first Bitcoin ETF recorded trading volumes of over $1 billion on its first day. This success has not missed the radar of Wall Street. Analyst Christopher Brendler sat down with Coindesk to talk about the future of bitcoin in Wall Street. According to Brendler,....
For the first two or three years, arguably Bitcoin was a toy for nerds, and some dissenters might even go to say Bitcoin is just for anarchists and liberalists. However, as more people used it, and more companies started accepting it, Venture Capitalists and Wall Street started catching on. First it was just the small seed investment round here and there, usually investments below $100,000 in USD. However, 2014 hit a record of Venture Capitalism flowing into Bitcoin when we see record investments in Bitcoin heavyweights like Xapo, BitFury, Circle, and OKCoin.
Do Wall Street’s woes have anything to do with bitcoin’s bounce? Bitcoin was one of the few winning investments in the worst first week of the year for U.S. stocks, according to The Wall Street Journal. The Dow Jones Industrial Average (DJIA) and the S&P 500 had their worst first weeks in history. Bitcoin, gold, the yen and natural gas were in growth modes. At the close of trading Friday, the DJIA fell 6.2%, the S&P 500 lost 5.96%, and the Nasdaq was down 7.3%. In addition, 10-year Treasury yields fell 0.141 percentage points to 2.131% and Nymex crude oil dropped 10.48%. The DJIA’s....
Wall Street has been embracing the latest wave of Silicon Valley financial tech at a fast rate. Over the past several months, many Wall Street Financial companies have embraced the new wave fintech enterprises with remarkable speed. The blockchain an online ledger that tracks the movement of digital currency, but it can also be used to manage, register and secure anything else that has value. Wall Street companies seem to have seen the true potential of the blockchain technology and many are now rushing to invest and develop new applications with this new technology. Jamie Dimon, JP Morgan....
Wall Street Chads is the first NFT project to create a decentralized community-run investment platform. Inspired by WallStreetBets, the infamous subreddit community which is credited for the meme-investing craze and coordinating one of the largest short squeezes in history, Wall Street Chads leverages the power of the blockchain to bring the same community-driven investment strategies […]