Anyone that has jumped in on cryptocurrencies, is pretty much against central banks, is sick and tired of governments and banks running things, and is looking to take things in their hands again, right?
Well, anyone is also looking to make money off cryptocurrencies and wherever there is money to be made, you can bet on Wall Street. Bitcoin futures was just the beginning of Wall Street people wanting to get their hands on some of the high returns. Some investment banks have been flying under the radar about their crypto investments. Compared to the billions they are making annually, sponsoring a team of crypto traders with a few million is not a big deal to them. However it is a fact, that more and more firms are getting excited about cryptocurrencies.
And not so much because they themselves are thrilled about answering the calls of angry customers, but rather because the customers themselves have asked from firms like Goldman Sachs to offer them cryptocurrency related products. Now, Goldman needs to compete with the other firms on Wall Street, so of course they would be interested in offering packages to their clients connected to cryptocurrencies.
What does that mean though about the goal of avoiding Wall Street? Well, I think they getting involved can actually have a positive effect: yes, there will be greater ownership by banks (again) but at the same time, there will be more money poured into the markets. Private individual investors is one thing, but when you start getting institutions pouring their client’s money into cryptos, then you are talking about scaling the crypto industry massively!
I would not hold my breath with Wall Street however. If you think you should buy into some cryptocurrency just because large firms may start to adopt them, then you are getting in the crypto world for the wrong reasons. First of all, you don’t know which of all 1,500 coins they will get into. And then, you don’t know what the volatility is going to look like.
Personally, I always like ICOs a little bit better than I do cryptocurrencies that are trading live. Usually, with an ICO you can get discounts on the tokens you buy, giving you an edge on your competition. Here is an ICO I would definitely recommend, especially if you are into real estate related investments and real estate tech: https://rentberry.cryptonomos.com/