Press "Enter" to skip to content

It’s time to look at cryptos from a different perspective

There is no doubt Bitcoin and the many cryptos that mushroomed after its success enjoyed the patronage of some serious investors since the beginning, despite the taboos associated with the concept of digital currency. Perhaps there are no other investment assets that face so much skepticism as cryptocurrencies do, with their legitimacy being questioned persistently.

But, recent trends indicate cryptos are on track to join the mainstream, especially after the recent IPOs, or ICOs as the process is popularly known, that paved way for their listing in certain regulated stock exchanges, especially in Asia.  And then came the crypto crash a few months ago, when market leader Bitcoin lost about three-fourths of its value.

At a time when a recovery looked distant, the market is witnessing a renewed vigor, this time fuelled by institutional investors. There is fresh optimism in the market since the ‘professionals’ must be betting big on cryptos for some reason. They might have taken a cue from the recent initiative by some rating agencies to have their crypto custodians approved by the regulators.

In the cryptocurrency crash that occurred a few months ago, market leader Bitcoin lost about three-fourths of its value

While Citigroup [C] and Goldman Sachs (GS) are already moving in that direction, Morgan Stanley (MS) is doing the groundwork to offer Bitcoin swap trading to clients. Also, a new service being rolled out by the Intercontinental Exchange (ICE) will help institutions seamlessly access the crypto market in a legitimate way.

Identify theft, crypto fraud: AT&T faces $224 million lawsuit

Not only is that enough reason to consider cryptos as a long-term investment option, but a caution to those sitting on the fence to make up their mind quickly and avoid being left out. Moreover, if everything goes as planned, the SEC will be giving the green signal for Crypto Exchange Traded Funds in a couple of months – a crucial move that would facilitate investment in the digital currencies on a regulated platform.

After the crash, Bitcoin has nearly stabilized at $6,500 over the past two months as institutional investors continue to flock to the market, indicating a probable bull run in the near future. Of late, virtual currencies are witnessing increased acceptance in emerging markets, especially in countries that experience economic instability. Across the globe, Bitcoin continues to be the favorite among investors; of course, those who can afford to own it.

Identify theft, crypto fraud: AT&T faces $224 million lawsuit

Related Articles

Top
%d bloggers like this: