First of all what happened with the market? A great night followed by a hungover morning.
For today's news it looks like Goldman Sachs sees banks starting to have crypto accounts. I can see this happening sooner than later. You would go into your bank and have a checking account and an account for bitcoin or ethereum. It would probably be insured like your other accounts and would lead to a lot of new people who were not into crypto opening them.
But I could also see the backlash from a lot of the community who want crypto to be out banks and would argue to keep your own keys.
It would be interesting to see if this goes anyway in the upcoming months. The article also talks about banks and fintech and how fintech is getting ahead of the banks. It talks about how it is up to them to catch up or lose more and more people.
Check it out if you are interested:
https://www.cryptovibes.com/crypto-news/goldman-sachs-sees-cryptocurrency-accounts-as-part-of-the-banking-future/
Is it not better to keep your own keys , for me keeping my keys gives me peace of mind. Thanks mike
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For the tech savvy keeping your own keys makes sense. For Boomers that will be impossible for many of them. Full disclosure, I am a boomer. I keep my own keys but I had a millennial friend who walked me through the minefield so to speak. Most of my boomer friends have trouble opening their phones. Managing crypto will be impossible without institutional help. It may not be what you want to hear but it is reality for the majority of people over 60.
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I have zero issue with banks holding crypto. I also have little interest in participating. I think it's important for them to do so in order for crypto to be held as collateral. It's an important aspect of crypto being translated to fiat.
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