The Owner of New York Stock Exchange is Planning to Let Customers to Buy Bitcoin
Venturing into Bitcoin trading
New York Stock Exchange (NYSE) owner was planning to let their customers buy and hold Bitcoin. NYSE seems to be following the footsteps of other Wall Street giants like Goldman Sachs which are making similar moves. The New York Times Cited emails and documents as well as four other anonymous sources that Intercontinental Exchanges who are the owners of New York Stock Exchange was planning to offer traders contracts which would result in customers owning digital currencies.
Goldman Sachs is also planning to launch Bitcoin futures in the coming weeks after their executive a confirmed that it was indeed true that they would actually trade the futures.
Fore their decision ICE had conversations with other financial institutions about putting up an operation through which banks would buy a contract called a swap which would end with a customer owning a Bitcoin the next day which is backed by the exchange.
If both ICE and Goldman Sachs go on with their intentions, then they would be joining a large chunk of traditional financial institutions engaging in crypto trading. Other known players include NASDAQ who have been trading Bitcoin futures from last year and who is now planning to establish a cryptocurrency trading platform.
The position of these Wall Street institutions contradicts with some industry perspectives currently making headlines like Warren Buffet the CEO of Berkshire Hathaway who has been saying that Bitcoin is not an investment likening it to rat poison. People have slammed Buffet to be old-fashioned and jealous because digital currencies would take over from banks where he has invested millions of shares.
Bill Gates seems to be divided about the whole issue of digital currencies saying that even though trading Bitcoin was a ‘greater fool,’ he would trade if there was an easy way to trade.
Many financial institutions are joining the cryptocurrency sector with governments like Venezuela having their own national digital currency.