Bitcoin, Cryptocurrency, Big Banks on Money Never Sleeps Radio with Louis Velazquez
Bitcoin has long been the deep dark lets not talk about it word on the street, it was dubbed a scam, fraud and a fad. In short it’s none of that at all, Bitcoin itself has spark an evolution of an asset class that is continuing to grow and evolve into some greater. The cryptocurrency market as a whole will grow tremendously over the next few years however its ONLY the cryptocurrencies that have a true utility that will shine brightest.
No Utility in my opinion equals No True Value.
There have been rumors that the the U.S. Government may shut down Bitcoin and other cryptocurrencies, the reality is that this is the equivalent of shutting down the entire stock market because people think that pink sheet companies can be a scam. Now lets be clear you do have some jokes of crypto’s out there that really serve little to no purpose. They aren’t aligned with anything more than lining the pockets of the early adopters and still investors flock to the table.
I’m not one to judge where somewhere puts their money but it’s better to be smart than ridiculous, look for the utility, even if the crypto isn’t in full swing if there is a viable utility then the value will unlock at some point.
Big banks and brokerage have been embracing crypto’s as of late because their clients are embracing it, what a novel idea to do what your clients want and give them what they crave. It’s like owning an ice cream shop and the demand for extra chocolate syrup skyrockets but you won’t give them more because it’s not healthy for them, you have to listen to your customers. When you are in a service industry then servicing your customers is your job.
This is why U.S. Bank, JP Morgan Chase, BNY Mellon, Goldman Sachs and a host of other banks and brokerage houses are setting up to be custodians of these digital assets. Its beyond Bitcoin and Crypto’s, this will include NFT’s that is a certainty.
Listen to the show and hopefully there is something useful for some folks.
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https://www.audible.com/pd/Money-Never-Sleeps-Radio-with-Louis-Velazquez-Podcast/B08K56Q5DH
