Wall Street is Quickly Moving in on Bitcoin
Bitcoin on Wall street has been the subject of many headlines in 2015 thus far. As bitcoin makes headway in the financial world, the signs are clear, Wall Street is quickly moving in on bitcoin. The Wall Street Journal reports: Amid a slew of deals involving prominent finance and tech companies lie signs that the U.S. business establishment is exploring innovative new enterprise uses for digital currencies. They are making early, tentative bets that the so-called blockchain-ledger technology behind bitcoin might one day transform how banks, businesses and even smart appliances circulate....
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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....
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As an asset class, Bitcoin has gained a lot of retail interest, but when it comes to the big money, institutional investors haven't had the opportunity to really participate. But that's not because Wall Street isn't interested."There is not a hedge fund or institutional investor that doesn't have Bitcoin on their white board. They know about it, they're thinking about it. Some even have it in their personal accounts," explained Matthew Roszak, an investor from Tally Capital. "But in order for them to jump in the water, they need tools that they are more used to."There is a perfect storm....
Wall Street has been all over Bitcoin over the past few months due to the growth in the need for an inflation hedge and a relative stagnation in the price of gold relative to other asset classes. This much was confirmed just recently when a Wall Street veteran and former White House staffer launched a […]