More Crypto Demanded by Wall Street as Bear Market Thrives
The analysts at Sandford and Bernstein and Co. refute the concept that stats prove cryptocurrencies are unstable. They recognize that despite the reports continuing to show the flaws in the blockchain system, crypto-trading platforms are exemplifying solid volumes.
Are Banks Coming Along?
David Solomon, the CEO of Goldman Sachs finally announced as of June, the bank’s attempts of finding means to serve cryptocurrency-interested customers will increase. They’re currently debating initiatives of adding crypto as an asset class.
Goldman Sachs did not deny being cautious, however, as they are trying to understand more about the possibilities as well as working with their clients to find the best possible way to implement crypto into their process.
Cryptocurrency is making transactions a lot easier for many firms, including the two multi-billion dollar companies, Twitter, and Robinhood who have been supporting cryptocurrency exchanges since the beginning of 2018.
Although the two corporations are taking it slow, as they both stated individually that their investment and profit-margins of crypto is as low as they can do, it seems to the public as an attempt to attract investors by showing them a small-scale model of the capabilities of cryptocurrency tradings.
Vlad Tenev, CEO of Robinhood stated that they’re currently building an ecosystem rather at rushing profitable opportunities through cryptocurrency.
The viable truth is, however, at least in the long-term view, Wall Street firms are very likely to start investing in cryptocurrency and taking their chances in the new, growing market.