Today I'm going to be talking about one big point We didn't. This is due to the misfits all important and it really makes a big impact on the bitcoin success as a whole. so forget more detail on that topic go ahead that leaving alike sure this reduce your buddies. I always appreciate all of those things and they really helped me out. So without further ado let's go ahead and get right into it. So the Wall Street tightened Goldman Sachs is now all in when it comes to the allow clients to treatest the corn of futures by the one of its New York at a desks Goldman becomes Sachs the first regulated financial institution to offer such a service. which is very exciting news and really great spec when a lot of legitimacy. Part of the ground the constant choose to go this course is due to several inquiries recapture from guard pool foundations and endowments. which had received donations from pick one billion there is no will the Goldman Sachs co signed a big point increased confidence in the digital currency that is the burning question well let's go ahead and break that down due to missing for for digital currencies has been raised now. The Goldman Sachs going to facilitate the institutional trading of they're quite they're proceeding cautiously and will not treat actual point initially instead to the bank will use its own money to treat the corn futures contracts for their clients it will also treat non deliverable forwards futures. were trades will be settled in the regulated currency is quoted.
So pick one has been on rebound the past couple of months interest in the currency increased over the course of twenty seventeen also cause volatility to skyrocket as more and more people jumped in the price of the digital currency tripled in the second half of last year. Topping out at twenty grand before dropping to eight thousand dollars in February of twenty eighteen the cryptocurrency treated the size ninety three hundred dollars before south Korean officials raided south Korea's largest crypto currency exchange sending prices back to about the eight thousand six hundred dollar range.
So we'll Goldman Sachs slope its digit in the crypto circulation worth cultivate banks based use Max is away forth of the Olympic and CEO Arthur Hayes Helms this foremost crypto circulation derivatives bargain. The circle attempt derived function products to mention investors and has a quotidian corrupt scroll approaching three billion dollars invite next made revenue of eighty three million dollars and twenty seventeen and posted twenty one million dollars in revenue during January of this year. The company is on track to exceed its twenty eighteen performance and Hayes is quoted as saying this is the best thing you could ever have we make more money when the market goes down we love this volatility.
Now how does this actually relate to cope and sex knows institutional investors engaging these derivatives and their investments within them they'll be looking to ease their consciousness by having reliable benchmark for their performance Goldman. Sachs pupil and billion or cryptocurrency favor Mike Novogratz announced a house with Bloomberg to waken the bluebird G crypto pointling. which tracks the performance of the ten most liquid crypto currencies and no regrets Quinn H. A just one more building block in the foundation which will get at one point pension funds and family offices and sovereign wealth funds all participating in the crypt door Connery. so obviously a lot of big financial institutions and investors are becoming a far more interested in bitcoin and are actively supporting it by putting their money in and allowing institutional investors to actually invest in the crypto currencies. Themselves now all of you I'm sure are familiar with Goldman Sachs they are a huge financial group and for that reason their adoption of the bitcoin. once at a lot of credence there really giving it a lot of legitimacy.
Which in my opinion makes it look quite do it and that in turn attract even more investors to the currency itself now. How could that drive the price up for it you might be asking well one big investors invest in something they tend to be pretty vocal about it or many of them. Do you especially those with a major social media presence. so if these big investors are buying into big point on a large scale they're buying millions of dollars of it or even trading at that point on a regular basis their social media followings consistent of other institutional investors and smaller entities such as your general average Joe investor. you know the smaller people a lot of these people I think we'll start jumping in more and more on crypto currencies as the trust for the currency grows trust is huge and if people don't trust the currency on the whole they're going to have a difficult time participating in it or using it or even purchasing it. so with that being said I prefer the adoption of the coin and other group their currencies by Goldman Sachs will really help pushed upward in the next six months. so I think a lot more news is coming out about this recently and a lot of the bigger financial groups and even wealthy individuals and people in grossed in the financial world are beginning to really accept and support their point and I think that is going to have an absolutely huge impact. so as always that's much fuel for this topic I would
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