"People complain that there are no representatives of the millennial generation in the area of commerce. Maybe this is not the product that I would like people to start with, but this is the best opportunity we have had in the market to incorporate people who were traditionally not interested in business, "he said in an interview with Closing Bell.
Although they are now low, during the past year, Bitcoin, the largest cryptocurrency by market capitalization, rose more than 1,500%. Ripple, meanwhile, rose 35,000% in 2017. Without a doubt, they have proven to be a big business for many people.
The strong rise of Bitcoin last year has led some, such as the CEO of J.P. Morgan Chase, Jamie Dimon, to call Bitcoin a "fraud" and others to declare that it is a bubble.
Last month, TD Ameritrade announced that it was offering customers access to Bitcoin futures from Cboe, which began trading in December. The company is one of the three most important retail brokers, according to capital market research and consulting firm Tabb.
Kinahan said that the company traditionally likes to advise clients to use 10% of their money to speculate, but what millennials are saying is that they want to use 90% to speculate (it is important to point out that the meaning of the specular verb what is being used is "to conduct commercial or financial operations with the intention of obtaining benefits based on changes in prices or changes").
"I agree with that? Not necessarily, but for us to say 'you're wrong' is foolish, "Kinahan said.
