[2017-11-15] Wealthy Man Group fund: If CME succeeds,we’ll work with Bitcoin too

[fanatseal2]

Yesterday, one tweet from Reuters has confirmed what many market analysts might have already foreseen: the decision of CME Group to work with Bitcoin has stimulated its rivals to pay more attention to this cryptocurrency as well. This is why, according to the report, the representatives of the hedge fund firm Man Group now tell they would add Bitcoin to their “investment universe” if CME succeeds.

CME Group CEO has announced the launch of Bitcoin futures at the second week of this December, so it will not be a very long time for Man Group to wait and decide if the business worth the risks. And, of course, the cryptocurrency market and the price of Bitcoin are going to grow during the...Read more

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[1Referee]

If there is no approval from 'higher hand', there will be no CME group offering Bitcoin related financial instruments. It's like they just assume that it will come through without even taking a likely rejection scenario into consideration. I can somewhat understand that CME stands on a whole different level than the Winklevoss twins and SolidX did with their ETF's, but that doesn't justify the overconfident attitude of the CME ceo. Ultimately, we don't need them to be approved in order to see the price contine to go up, but if it does turn out to become reality, we'll see the market blast through the $10,000 this year with ease. One way or another, institutional capital will find its way to Bitcoin for sure, it's just a matter of time.