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NYSE Owner Predicts Bitcoin (BTC) Becoming the First Worldwide Currency

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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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Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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