Goldman sachs will trade bitcoin futures for clients bitcoin bitcoin clients
Wall Street banks are refusing to let their customers purchase Bitcoin Futures according to a report by the Wall Street Journal. While other brokerage firms like Goldman Sachs are clearing some of its clients for trading Bitcoin futures limiting the futures exposure, Bussiness Insider reported.
As a fun fact and a reminder Thomas Peterffy is already known for his hate of Bitcoin and cryptocurrency. Will it stifle the volatility? How will institutional investors money drive the Bitcoin price? This is history in the making for the cryptosphere.
So far the market has reacted negatively losing a value of [FIAT: Bitcoin is currently trading at [FIAT: Want an edge in the crypto markets? You must be logged in to post a comment. Want an edge in cryptocurrency markets? Get news that moves markets to your inbox.
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Trading will start on December 11 and 18, respectively. The decision to clear client trades will be made on a case-by-case basis, the person said. Bitcoin has had a wild year, culminating in its biggest thousand-dollar moves ever this week, going by round numbers.
I have an open mind about these things [bitcoin and cryptocurrencies] because there are a lot of things that work really really well today that I thought was stupid and wrong. I have a much more open mind about this and I know a lot of history of finance and I pointed out that there was a time wherein people only took gold coins.
More importantly, Blankfein emphasized that the abrupt shift from the gold standard to the fiat currency system was rejected and failed to be adopted in the beginning.
If bitcoin is a natural progression from hard money to digital money, Blankfein explained that bitcoin holds the potential to become the next gold and reserve currency of the world. With Goldman Sachs and JPMorgan optimistic in regards to the growth of bitcoin as the new gold and robust store of value, other major banks and financial institutions will inevitably follow. The creators of Bitcoin invented Blockchain, an exciting technology that may have many other uses. For that, these inventors should be commended.
However, they aren't experts in creating markets. The launch of these trading venues will enhance price discovery. That means any new information about Bitcoin will quickly be reflected in the price of the contracts. That will likely be far better than the price discovery on the existing Bitcoin exchanges. The contracts will be settled each trading day using a transparent reference price.
That reference price may not be perfect, but it will soon get written into contracts that involve Bitcoin being paid or received as happens in other markets. For instance, jewelry makers and retailers often use reference prices for gold in their contracts. In short, having a transparent settlement price will simplify the matter of using Bitcoin as a method of payment.
Your email address will not be published. Leave this field empty. Notify me of follow-up comments by email. Notify me of new posts by email. Thursday, May 10, Trading Bitcoin Futures For Clients. Neha Singh December 8, BlockchainNews 0. In a statement, Goldman Sachs spokeswoman Tiffany Galvin said: Futures contracts don't go missing. You might lose money, but you won't misplace the contract. That is unlikely to happen when trading futures. Dash Review Analysis Report: Neha Singh A cryptocurrency enthusiast who has spent around 5 years in the Software Industry.
A writer and an avid Blockchain technology geek. Leave a Reply Cancel reply Your email address will not be published.
They even went so far as to blame me for logging into a fake Poloniex website. Getting Started with TradeStation Jutawan Forex Indonesia Blog Trade Binary Options Youtube. The statement claimed BTC-e was вunder investigationв by the office and it quickly generated plenty of fear, uncertainty and doubt (FUD).