More and more institutional financial entities are interested in the Bitcoin case. A continuing upward trend, the arrival of futures contracts as well as governments taking sides have only increased interest in Bitcoin by large institutions. From JPMorgan to wealth managers, Bitcoin finds more and more resonance.
The big banks arrive
According to a report by the Wall Street Journal, JPMorgan is looking more and more seriously at providing futures to its Bitcoin clients.
"JP Morgan is exploring the possibility of providing its clients with access to the new CME Bitcoin Futures through its futures brokerage unit. Wall Street Journal article
JPMorgan is the parent company of Jamie Dimon, the same good old Jamie who called the Bitcoiners "stupid" and Bitcoin a "fraud". In this regard, the Financial Stability Board (FSB) Tuesday assessed JPMorgan as the bank presenting the highest risk for the stability of the international financial system. The FSB keeps this list every year, and is a respected institute. That the CEO of the most dangerous bank in the world calls us stupid, we call it good news.
Recently, the CEO of Goldman Sachs declared himself "open" to the Bitcoin issue.
"I read a lot of stories, and I know there was a time when a coin was worth $ 5 if it contained $ 5 worth of gold. Nowadays, we have paper supported by fiat ... Maybe in the new world, we will have something supported by consensus. I ended up learning over the years that many things I did not like were working very well. I do not have an investment in it, but I do not want to denigrate it. That's why I say open to the subject. Lloyd Blankfein, CEO of Goldman Sachs
Goldman Sachs is currently in the investigation period to launch a possible cryptocurrency trading platform. It could be the first time a regulated conventional bank has launched a digital currency exchange for traders and investors in general.
Bitcoin: a highly studied investment
Consensus is rare in the field, yet there is one point where everyone agrees. Bitcoin is still young, and its volatility can seem scary. We have had many comments on this subject, including Mario Draghi, the president of the European Central Bank or Christine Lagarde, president of the International Monetary Fund. The latter, however, insisted that cryptocurrencies were here to stay, and that it was time for governments to pay attention to them.
"Not so long ago, some experts argued that PCs would never be adopted and that tablets would only be used as luxury coffee trays. So I think it would not be wise to reject virtual currencies. Christine Lagarde, Director of the IMF
More recently, Mark Machin, Director of the Canada Pension Plan Investment Board (CPP, the largest pension fund in Canada) said he had about a hundred employees in his Toronto office who were studying this market very closely . However, he said he did not plan to invest immediately.
"We're watching. I do not think we can invest institutionally for now. We are in the first days and there will be a lot of disruptions. Mark Machin, Director of the CPP
The whales are on their way ...
We do not introduce Michael Novogratz, a bitcoiner from the beginning and a fervent defender of cryptocurrency. This billionaire investor has recently opened a $ 500 million fund to invest in digital currencies, and is currently involved in various projects on the subject.
Accustomed to our chronicle [prophecy], Novgratz recently declared that "the institutionalization of this universe" was "imminent" ...
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