Some of you might have seen the article on the NY Times:
https://www.nytimes.com/2018/05/07/technology/bitcoin-new-york-stock-exchange.html
Basically the parent company of the New York Stock Exchange (NYSE) called Intercontinental Exchange (ICE) has been working on an online trading platform for large investors to buy and hold Bitcoin.
Sounds bullish at first, right?
Because that'll mean Bitcoin will definitely be in the mainstream media (again), but this time rather positive, because this just states a big stock exchange actually adopts our beloved cryptocurrency and sort of makes it mainstream.
So, BTC to the moon?
Not so quick!
It says it is for large investors, or rather whales. And whales in the crypto market are laughable compared to whales in the stock market.
Do we really want BIG money to make waves upwards or downwards in this unregulated market? Yet?
Also this might ultimately bring regulations with it. Which a lot of people fear, altough I personally think it's not that bad.
Sure all of this will eventually happen at some point anyway but is it too soon?
Do we need mass adoption first before we get mass money? Or do you think it doesn't matter, any publicity is good?
I am personally pretty uncertain about how this will influence the crypto market. Couldn't say bull or bear here.
If anything, this might still take a while before this platform actually happens.
What do you guys think of it?