Here’s an interesting piece of news: https://www.crypto-news-flash.com/new-law-banks-hold-and-sell-bitcoin/
Thanks for sharing @m, perhaps we’re seeing another step towards cryptocurrency becoming more mainstream or maybe this is just another angle the regulators are putting in place to have more control.
Either way, I think banks having the power to hold and transact digital currencies should start to turn their negative image around after the last couple of years where many lost serious amounts of cash and we saw ICO after ICO plummet in value.
Interesting, this could maybe help stabilise the crypto market further. I avoid it (crypto that is) because of how volatile it can be, I know investing has some risks but crypto can be quite unpredictable so I skirt around playing in that pond so to speak.
That said on the flip side it would mean further regulation so that could maybe have a negative effect on its value I don’t know, I’m no expert, but if it opens up more ways for me to invest and grow my money then I’m all for it
I’m with you there @Oli! I used to have a dabble into Crypto a very small amount but found it almost impossible to actually make any returns. You can’t analyse it and make informed decisions quite like on the stock market. It’s more speculative and driven by who’s buying and selling…
In the short term regulation may have a negative effect on the value but in the whole scheme of things it might end up making crypto a more investable product too!
I have invested a little in cryptocurrencies and there are some interesting companies but as @Oli mentioned, they crypto market is typically volatile - usually like the Asian capital markets as they’re predominately supported by retail and not institutional investors. Institutional investors (like banks) help to stabilise capital markets / listed companies as they’re typically long term investors. There’s a great website called Simply Wall Street where you can see which stocks are predominately funded by institutional investors.