Most of the times, Banks have been opposed to the increased demand for Cryptocurrencies. In the United Kingdom, the US and South Korea, banks have taken different steps to reduce the exposure to cryptocurrencies. But some banks in Europe are looking forward to giving clients the deserved access to the cryptocurrency market.
Mike Novogratz, former principal and macro fund manager at Fortress Investment Group (FIG) wants to create a cryptocurrency merchant bank. The billionaire investor is thinking in long term investments in the cryptocurrency industry. The project has raised $250 million dollars from private investors and it is expected to keep growing in the next few days.
Most of us believe that Bitcoin and cryptocurrencies are changing the world. Indeed, they are doing it. But it is different when a politician comments in a positive way about them. A former governor for New Hampshire and three-term senator said that Bitcoin change the world and ‘neuter’ central banks.
Cryptocurrencies experienced a rapid surge during the last weeks of 2017. Since then, the market has lost around 60% of its value. But according to Mario Draghi, Financial Institutions in the European Union may start holding Bitcoin positions. Banks could be interested in investing in Bitcoin and cryptocurrencies after the gains that they had during the last year.
James P. Gorman, Morgan Stanley Chief Executive Officer, believes that Bitcoin does not deserve any attention. In this way, the CEO becomes part of the group of bankers that are against Bitcoin and cryptocurrencies.
We all knew that there would be Bitcoin critics throughout traditional financial sectors. In fact, there have always been critics. However, Bitcoin is gaining so much momentum and market value that the haters are coming out of the woodwork; and in the immortal words of Biggie Smalls, “More money, more problems.” David Gledhill is the […]