The founder and foremost owner of the New York Stock Exchange (NYSE) is at the verge of making history. However, this seems to be his first attempt since he’s been in the exchange venture. His he going to give the shot regardless of whatever doubt that may occur later on in the future? but instead he prefers to wait-and-see if bitcoin futures be for the better, even so… more similar ventures are also preparing for the launch of futures markets based on the fast-growing cryptocurrency.
“We may be stupid for not being first on that,” Intercontinental Exchange Inc. Chairman and Chief Executive Jeffrey Sprecher informed the audience in the financial conference in New York on Tuesday.
After which Mr. Sprecher voiced out doubt about the future of being the first U.S. exchange to offer bitcoin futures. Chicago-based Global market Inc. CBOE organizes to start trading bitcoin futures on Sunday. While CME group Inc. is following same manner which will begin a week later.
It was however said that futures contract could shake up the bitcoin crypto-currency market by providing an easy way to bite size the market and hope to see if prize will fall.
Mr. Sprecher said that current core of bitcoin market is presently dominated by buyers and not the sellers itself, therefore creating fear of who may dominate the market if given the chance I.e., bitcoin sellers, including the “algorithm guys.” If given the chance to reduce the position of bitcoin to its minimal, the ICE CEO Said 😔.
According to crypto experts as interviewed, cried out and said: if this happens, it will mean death 💀 for bitcoin. And still continues: will can’t just fold our hands and let this happen.
Mr. Sprecher however said in his speech, “I look at that and just say, is that going to work out well for me as a venue. “He however said that the crypto market is not “entirely transparent” as there are flaws.
Both companies, that is, CME and CBOE is involved with bitcoin exchanges for generating a daily prize index, which their planned futures will track. These announcement were made during the bitcoin futures launch raising attention in the digital currency.
ICE are big time players in cryptocurrencies through its investment in Coinbase, a San Francisco based provider of wallet services that people can use to hold bitcoin. In fine manner; NYSE also provide the prize index of bitcoin and has unsuccessfully sought to list exchange traded products related to bitcoin.
It was researched on and discovered that business men and women including smart investors and billionaires has actually invested in the sector this year. It hit a new record of $15,202.80 on Thursday, expects says this is just the beginning while skeptics says otherwise.
What do you remember ?
That the bitcoin currency is changing the world at an alarming rate.
That the bitcoin futures will be great for this generation.
That the invention of new cryptocurrency makes us smart thinkers.
Take away question:
How can you tap into this ever unfolding market?
What are your fears and concerns?
What goals have you set regarding bitcoin and other digital currency?