The big money is starting to position itself in the bitcoin and digital currency market. An important step in bitcoin’s acceptance in the payments & currency community is recognition of digital currency validity by Wall Street. Now many of our readers may not necessarily like the bankers in their ivory towers in New York, nonetheless, these guys have the smart money and connections to make huge returns in the marketplace. See below for recent Wall Street – bitcoin related news and you can clearly see a trend is forming:
- January 2015 – NYSE, USAA, BBVA, & Citigroup invest in Coinbase
- March 2015 – Nasdaq OMX Group invests in tech startup Noble Markets to create a digital currency marketplace
- March 2015 – Ex JPMorgan Executive Blythe Masters heads to Digital Asset Holdings, a digital currency startup
- April 2015 – Goldman Sachs invests in wallet / bitcoin service provider Circle
- May 2015 – The Bitcoin Investment Trust (BIT) begins trading on major stock exchanges providing unprecedented access to bitcoin from the investment community through a trusted counterparty
- Spring – The Winklevoss twins plan to launch the first bitcoin ETF (COIN)
With the big hitters stepping up to the plate this portends a positive future for bitcoin. And when the money starts flowing in it will likely have a large impact on the overall bitcoin price, however, the biggest returns will be seen by business owners and those who invest in those very business owners creating bitcoin related businesses. You can play the bright future of bitcoin in 3 ways – buy the currency, start a business related to it, or both. Wall Street is doing it, why shouldn’t you?