The CEO and owner of Intercontinental Exchange (ICE), the company that owns NYSE (New York Stock Exchange), has decided to form a new firm called Bakkt. Additionally, he stated that Bitcoin (BTC) might become the first currency that would be accepted and used worldwide.
Helping BTC become a worldwide currency
According to a recent statement by Jeffrey Sprecher, the founder, chairman, and CEO of ICE, Bitcoin might become the first currency that will be accepted worldwide. This is a phenomenal achievement, and the fact that it can be made by a crypto makes it even more so. Now, Sprecher has a plan that will allow Bitcoin to take a next step towards making that a reality.
The plan includes the creation and launch of a new company, by the name of Bakkt. The firm will serve as a bridge between Bitcoin, Wall Street, and Main Street. Sprecher has stated in a recent interview that Bitcoin’s potential is huge and that Bakkt will have a unique opportunity to allow it to reach it.
Eventually, Bitcoin can become a global currency of choice, which would vastly simplify the process of moving the money around the world. Additionally, this move will also bring the launch of physically-delivered BTC futures, as well as custody crypto assets. Not only that, but a number of companies will join in on the move, including Microsoft and Starbucks. While this doesn’t mean that Starbucks will actually start accepting BTC, as some recent headlines falsely indicated, it will accept fiat currencies that can be obtained by trading BTC on Bakkt platform.
The move will also represent a big change for ICE itself, considering that only a little more than half a year ago stated that it doesn’t want to rush into dealing with Bitcoin and its products.
The move to attract more young investors
Bitcoin, as well as other cryptos, have been making continuous efforts to enter the mainstream usage for a long while now. Unfortunately, they were mostly unsuccessful when it comes to achieving any great victory in this field. Now, with ICE’s help, this might become a reality. Not only that, but it might also attract new generations of investors.
While older investors continue to remain the biggest skeptics when it comes to new technologies, the younger generations have also been very careful about the traditional financial institutions. Sprecher said it himself, stating that millennials do not trust regular banks, asset managers, brokerages, and alike. If these institutions wish to attract younger users, they will have to offer them currencies that they believe in, and BTC might be a perfect choice.
Sprecher recognized this long ago, and he even stated back in April that cryptocurrencies are not a trend that can be ignored. He criticized to an extent the willingness of younger generations to put their faith in Satoshi Nakamoto instead of the US Fed. But, he also recognizes that the things are as they are and that everyone needs to adapt to the new situation in order to remain relevant.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors
When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat. These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor. But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.
Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace. The real benefit to trading in these offices is to participate in the free flow of trading ideas and information. Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed. Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?
While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.
Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors. The goal of the platform is to help newcomers shorten their learning curve,…
CoinFlip Scores Big with BRD Wallet Partnership
As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible. While many crypto users are extremely tech oriented, a lot of those on the sidelines are not. The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above. In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country. Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.
In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map. Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells. BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit. The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.
Cryptocurrencies are already making a huge difference around the world. Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…
Cryptocurrency Collateralized Debt Positions Are Growing in Popularity
While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle. Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance. One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess. That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS. These projects have managed to find a foothold in the market and have a better chance than most of staying there. While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.
What is a Cryptocurrency CDP?
In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount. There are several examples of this in our day to day lives. Auto title loans from large companies like TitleMax are extremely popular with consumers. Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has. The consumer can continue using their car as long as debt payments are made.
The same concept applies to cryptocurrency CDPs. Consumers are able to put up crypto tokens, such as…
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