The Reasons Why Companies Rush On Bitcoin -2

Will the established financial companies be the biggest beneficiaries of the crypto revolution?

Toroso is the person who founded Amplify Transformational Data Sharing ETF (BLOK), which invests in public companies under the technology behind Bitcoin. Michael Venuto, chief investment officer at Toroso Investments, doesn't think it will be easy for them to dominate this new world. Venuto wrote the following in an email to Barron's, "Unless they discover the blockchain, they will die out. They understand this, but they don't realize how big or how fast changes will happen. They need to evolve, but evolution can be complex." Another reason is that the government has relatively increased acceptance of this trend. One of the reasons BNY bank has entered the crypto space is the clarity of more regulators regarding Bitcoin. While most of the illegal activities associated with cryptocurrencies in the past are still ongoing on the US government side, an approach is taken to regulate digital assets, mostly leaving them as it has in the past. At least without the tacit approval of the regulators, crypto wouldn't have fallen on the balance sheets of so many companies. Another reason cryptocurrencies are kept in corporate companies is that they can serve multiple purposes. Cryptocurrencies have the potential to be an alternative as a way to send money without financial intermediaries, far beyond Bitcoin's initial leading role. Fixed coins (commodities vs. pegged coins) whose value is to keep track of fiat currencies may allow much faster transactions for some financial services. Given that Bitcoin was created to eliminate brokers in the financial sector, the last places the asset will end up seem to be Visa (V) and MasterCard. Few companies are able to fulfill their intermediary role as perfectly as credit card processors. However, Visa considers cryptocurrencies to be useful for many other purposes as well. According to Cuy Sheffield, the company's head of cryptocurrency, Visa's trusted brand makes it a major player. Sheffield said, “We've seen an increasing number of people who want to use these networks but want a global, impartial, reliable brand to help them do that." Visa announced last week that it had developed a software that would allow customers to buy and hold cryptocurrencies through their website.   The Reasons Why Companies Rush On Bitcoin -2 Source: https://www.barrons.com/ You may also be interested in:

The Reasons Why Companies Rush On Bitcoin -1