NYSE Trader: Bitcoin Is Very Iffy

August 6, 2018

A trader at New York Stock Exchange (NYSE) told, he did not feel certain about Bitcoin and called it “very iffy” after new centralized BTC exchange Bakkt developed by the Intercontinental Exchange (ICE), which is the parent company to the NYSE.

Alan Valdes, senior partner to the international consulting firm SilverBear Capital and NYSE trader voiced his concerns about the major cryptocurrency when answering the question whether Bakkt start may mark the point when Wall Street began take digital currencies into account. He responded as follows:

“How do you protect your Bitcoin? These wallets seems very iffy at best. If someone hacks into them, it’s like losing cash, you are out. So, I think Bitcoin [has] a long way to go for the average person to get involved. Maybe in some emerging markets you’ll see it take hold with that currency could be a little stronger, it might work. But I think here for trade, I mean, we had at $20,000. Will it get there again? Anything is possible. But I’m not so sure.”

Meanwhile the ICE told on its plans to establish transparent and regulated international environment for digital assets in Microsoft cloud. The first thing the system is going to focus itself on is going to be Bitcoin trade and its convertibility to fiat.

Alan Valdes also stressed that the ICE will include US government-controlled markets and support transaction flows of over 270 billion dollars as well as provide for proper service efficiency and security.

To sum it all up we can say that the Wall Street players’ opinion seems to be altering. For instance, the Goldman Sachs CEO Lloyd Blankfein changed his mind about Bitcoin as he claimed early spring he had formed a special committee to study probable ways of applying digital currencies in the company.


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