[2018-04-24] Reuters: At Least 56 Finance Firms Will Enter Crypto In Next 6 mths

[nickbelski]

Twenty percent of financial firms want to “start buying and selling digital tokens” in 2018, Quartz reports Monday, April 23.

According to a range of over 400 undisclosed businesses surveyed by Thomson Reuters, one in every five “have plans” to begin direct contact with cryptocurrency assets in the next 12 months.

Reuters, which began including Bitcoin sentiment in its data feeds last month, did not mention the stature of the firms involved.

Nonetheless, 70% of those who said ‘yes’ to crypto in 2018 also said they were planning to begin within the next three to six months, translating into at least 56 new players offering cryptocurrency in some form by October.

The positive outlook reflects the overall wave of enthusiasm which has characterized crypto markets in April.

As Bitcoin and altcoin prices hold gains which topped $9280 Tuesday, pundits have been weighing in on the stronger performance due to set in for assets before 2019.

Current price estimates range from $25,000 to $100,000 by year end for Bitcoin, with traditional finance money jumping in after waiting ‘on the sidelines’ remaining a common narrative.

On Monday, Pfeffer Capital partner John Pfeffer announced he thought Bitcoin could eventually rise to $700,000.

Source: https://cointelegraph.com/news/reuters-survey-at-least-56-finance-firms-will-enter-crypto-in-next-6-months

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[1Referee]

It all comes down to how much potential this market offers to not only people, but every possible business. I wouldn't even be surprised if banks at some point will offer instant bank to crypto purchases and sales. Banks will try to compete with exchanges by setting up their own internal trading platforms to allow people to easily access and liquidite crypto. It's all just a matter of time, we're still at the very beginning of everything.

Great thing about this potential scenario is that financial institutions want to have their own reserves they can buy and sell from, so the direct result is that the regular market will dry out even further, and thus make further increases easier than ever before. That's the good side of things, where the main negative factor is that the average people due to that convenience will likely have less incentive to ditch centralized services, but that's their own choice in the end.

[Alex077]

Twenty percent of financial firms want to “start buying and selling digital tokens” in 2018, Quartz reports Monday, April 23.

According to a range of over 400 undisclosed businesses surveyed by Thomson Reuters, one in every five “have plans” to begin direct contact with cryptocurrency assets in the next 12 months.

Reuters, which began including Bitcoin sentiment in its data feeds last month, did not mention the stature of the firms involved.

This is excellent news for the entire cryptocurrency ecosystem. When global media such as Reuters positively pay attention to the cryptocurrencies, and it increases trust in digital currencies. Furthermore,56 firms that are going to switch into the cryptocurrencies' sphere boost positive attitudes also.

[gabbie2010]

This is a well development to the cryptocurrencies world these financial firm has finally reasoned to divert their portfolio to Cryptos having established the fact that cryptocurrencies has started revolutionizing  and boasting the financial market of digital currencies globally, involvement of these firms in trading digital tokens will consequently increase the popularity of Cryptos