The Fundstrat Strategistand fervent optimistic digital currencies Tom Lee believes that the generation Y aversionfor banks should greatly reshape the financial landscape. It would guarantee a proven benefit to cryptocurrency related companies like Robinhood and Square.
Young people in the "main lever" age group are changing the game
The recent announcement of the ICE, the owner of the New York Stock Exchange, demonstrates that cryptocurrencies should experience a new financial era in the near future. Lee highlighted this in a series of tweets where he also explains how some financial giants like Goldman Sachs and American Express find alternatives to traditional banking solutions to meet the expectations of young crypto-investors.
"MACRO 1 / Finance is set to get a Gen Y backwind reaching years of" leading leverage ". @urbaninstitute has published an interesting study showing the levels of indebtedness by age, and we have annotated that "the main lever" is between 30 and 48 years old. "
https://twitter.com/fundstrat/status/1028048198210703361
12:39 - 11 August 2018
"MACRO 2 / The number of Americans in the" main leverage "age group decreased from 2001 to 2008, but debt continues to rise (hence the crisis), but note how the figure should now accelerate from -3% growth over 5 years to + 6.6% by 2025, a massive acceleration. Note how the "boomers" created a similar boost from '75 -90 'pic.twitter.com/V43fScyX55. "
https://twitter.com/fundstrat/status/1028048198210703361
12:39 - 11 August 2018
"MACRO 3 / Since 1933, financial services have been consistently and consistently outperforming the S & P 500 when the 5-year CAGR of adults in the prime lever age group is positive and rising. 1935-1955 and 1975-1989. Generation Y is ready to accelerate this trend from 2018-2026. Positive tailwind for #Financials pic.pic.twitter.com/Cmou7wZ3ns.
https://twitter.com/fundstrat/status/1028048204229570560
"MACRO 4 / the risk is there, Generation Y members clearly do not trust the #banks, so there may be a new wave of financial institutions that will benefit. @JPMorgan @AmericanExpress and @GoldmanSachs $ AXP $ JPM $ JPM $ GS look like a strong lever. @Square @RobinhoodApp #bitcoin @ICE_Markets also. "
12:39 - 11 August 2018
ICE pulls out of the game
ICE's new cryptocurrency platform, Bakkt, promises significant advantages that distinguish it from existing crypto-exchanges like Coinbase. The company will create a new type of futures contract that "should really pay off".
ICE has been working with large financial institutions for some time to develop its projects. We can mention JPMorgan and Fidelity. Their common goal is to facilitate access to Bitcoin in traditional financial institutions through brokers.
Thomas Lee gave his opinion on the advent of new financial institutions for the benefit of the cryptocurrency industry on Twitter:
"1 / A week has passed since @ICE_Markets announced the creation of #Bakkt (https://goo.gl/nbQnkB). After a few conversations, it seems that what differentiates # Bakkt ** Callout to Justin Saslaw from Raptor Group has been very helpful.
https://twitter.com/fundstrat/status/1027571900778795009
17:06 - 9 August 2018
"2 / #Bakkt offers futures with a physical delivery day of #BTC. A contract buyer receives #BTCs the next day. It is possible to buy Bitcoin through Bakkt in existing exchanges like @Coinbase @Binance, but ICE / Bakkt has several advantages ... "
https://twitter.com/fundstrat/status/1027571900778795009
17:06 - 9 August 2018
"3 / ICE already has existing and approved business relationships with banks like @Jpmorgan and @Fidelity @CharlesSchwab brokers etc. This means that it is a natural route for traditional retail investors to access Bitcoin through their brokers. Especially since ICE is the owner of @NYSE @NYSE. "
https://twitter.com/fundstrat/status/1027571901823168514
"4 / ICE is a counterparty to the transaction (just like @Coinbase and @Binance are counterparties if you use them). ICE has huge financial resources with revisions of $ 6 billion (https://goo.gl/ruWgWD) and $ 85 billion in assets. As a custodian / counterparty, it is a good investment. "
https://twitter.com/fundstrat/status/1027571902817165312
17:06 - 9 August 2018
"5 / Bakkt trades futures settled on a day and not spot, because this entity is under the responsibility of the @CFTC (and #cryptodad @giancarloCFTC) and if it was spot, it would be @NewYork_SEC ( which is not positive, but I think it's the same thing). "
17:06 - 9 August 2018
According to recent surveys, virtual currencies are one of the few investments of Generation Y members. This would only be a way to save for their retirement funds.
What do you think of Tom Lee's comments on the disgust of Generation Y for traditional banks and the forecast of a new wave of financial institutions related to cryptocurrencies? Let us know in the comments section below.
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Hi @infoslink, I'm @checky ! While checking the mentions made in this post I noticed that @urbaninstitute, @cftc and @giancarlocftc don't exist on Steem. Did you mean to write @cft ?
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