When the Banks Advertises Bitcoin as a Good investment

[Stalker22]

Recently Nordic bank is about offering Bitcoin ETFs (Bitcoin Exchange traded Funds) to its clients starting from December. I think the banking system are coming to realization about the backup potential of Bitcoin and they’ll try to utilize the opportunity by creating a Bitcoin investment platform directly managed by them for their client and will urge them to invest in Bitcoin.

Just because one bank has decided to offer Bitcoin ETFs to it's customers that doesn't necessarily mean that the entire banking system would embrace Bitcoin/crypto. Maybe they will or maybe they won't. Banks promoting Bitcoin ETFs is a double edged sword. From one side, this is good, because it raises awareness about Bitcoin's potential growth, on the other hand, the banks are simply yet another middle man(just like you wrote in your forum thread), they will charge a fee for their services and they will manage their client's funds from behalf of the client.
Most people would still prefer a middle man, because they lack knowledge and experience.

you are absolutely right.  Banks just act like middlemen.  They hit you with fees and pretty much control everything, which is the opposite of Bitcoin.  It kind of ruins the whole point of Bitcoin being decentralized, shoving it back into the old system.

But lets be real, most people actually want that middleman. (Sadly)  They dont want to deal with wallets or private keys, or stress about losing everything.  They just want the ease and safety of a bank, even if it costs them.  They want to buy into the asset without needing a computer science degree.

[Distinctin]

When the banks start to advertise bitcoin as a good investment, hence we should be suspicious then because its never the nature of a centralized institution to praise a decentralized asset or investment. It could be the result will leave them a highly favored outcome, or eventually they will blackmail bitcoin in the end, so we should be careful trusting banks for bitcoin. It's more safe to trust your own instinct, than to trust the known enemy of bitcoin.

[Questat]

When the banks start to advertise bitcoin as a good investment, hence we should be suspicious then because its never the nature of a centralized institution to praise a decentralized asset or investment. It could be the result will leave them a highly favored outcome, or eventually they will blackmail bitcoin in the end, so we should be careful trusting banks for bitcoin. It's more safe to trust your own instinct, than to trust the known enemy of bitcoin.

I also sense the same way. Banks are controlled by the government so there's no way that they will have an opposite point of view towards bitcoin. And if ever there is, there's a set trap on it for bitcoin. So bitcoiners never take risk your bitcoin and entrust it to centralized banks nor to centralized exchanges. They only have the same goal because they are obviously backed up by the government. Banks can be good in fiat, but with bitcoin, I just don't think it fits for it.

[CryptoBuds]

When the banks start to advertise bitcoin as a good investment, hence we should be suspicious then because its never the nature of a centralized institution to praise a decentralized asset or investment. It could be the result will leave them a highly favored outcome, or eventually they will blackmail bitcoin in the end, so we should be careful trusting banks for bitcoin. It's more safe to trust your own instinct, than to trust the known enemy of bitcoin.

I remember years ago when banks were speaking out against and warning about bitcoin, we said they were anti bitcoin. But now they are promoting bitcoin very well and there is no more hostility, we say they have a bigger conspiracy and need to be more careful. So, in the end, what exactly do banks need to do to make you happy? LOL.

Bitcoin ETFs are also centralized entities and they are attracting customers to invest in bitcoin through their centralized services. Why do none of us complain, doubt or protest about it? On the contrary, many of us are excited and supportive because they are making the supply of bitcoin more scarce. Why are we angry with banks when they do the same thing?

[lizarder]

When the banks start to advertise bitcoin as a good investment, hence we should be suspicious then because its never the nature of a centralized institution to praise a decentralized asset or investment. It could be the result will leave them a highly favored outcome, or eventually they will blackmail bitcoin in the end, so we should be careful trusting banks for bitcoin. It's more safe to trust your own instinct, than to trust the known enemy of bitcoin.

This only talks about the level of customer satisfaction and they provide several alternatives to make it appear that this system supports Bitcoin's progress. Even though we suspect some of the reasons that they may have deliberately created, indirectly people are starting to see different definitions. When centralized systems try to advertise bitcoin which was previously considered a threat there may be other reasons why they tend to start to soften towards bitcoin's growing journey and continue to gain wider adoption.

This move is considered smart by some people because banks are not trying to be competitors but rather they can be partners for customers trying to make adjustments in investments. This doesn't just talk about trust because when you are involved in investment, convenience can be an option, after that regarding security measures you can determine it yourself by using several methods available in the asset storage aspect.

[Z_MBFM]

Recently Nordic bank is about offering Bitcoin ETFs (Bitcoin Exchange traded Funds) to its clients starting from December. I think the banking system are coming to realization about the backup potential of Bitcoin and they’ll try to utilize the opportunity by creating a Bitcoin investment platform directly managed by them for their client and will urge them to invest in Bitcoin.

bitcoin is getting more and more popular as days go by and the banks know that a lot of people are more interested in buying bitcoin now so instead of letting their customers find another platform they capitalize on the demand for bitcoin and keep their clients because clients mean more profit

I have not seen any news so far where any bank is offering Bitcoin ETFs to its customers. Even though op wrote a story here, he did not use any source link from which its validity can be seen. So I am not believing it so far that any bank is ready to accept Bitcoin and they are advertising it. The world is very positive about Bitcoin now but till now the banks are not ready to deposit or exchange Bitcoin directly. I was believing in this because till now I have not come across any such news from any trusted platform.

[beveryu778]

Recently Nordic bank is about offering Bitcoin ETFs (Bitcoin Exchange traded Funds) to its clients starting from December. I think the banking system are coming to realization about the backup potential of Bitcoin and they’ll try to utilize the opportunity by creating a Bitcoin investment platform directly managed by them for their client and will urge them to invest in Bitcoin.

bitcoin is getting more and more popular as days go by and the banks know that a lot of people are more interested in buying bitcoin now so instead of letting their customers find another platform they capitalize on the demand for bitcoin and keep their clients because clients mean more profit

I have not seen any news so far where any bank is offering Bitcoin ETFs to its customers. Even though op wrote a story here, he did not use any source link from which its validity can be seen. So I am not believing it so far that any bank is ready to accept Bitcoin and they are advertising it. The world is very positive about Bitcoin now but till now the banks are not ready to deposit or exchange Bitcoin directly. I was believing in this because till now I have not come across any such news from any trusted platform.

This is a true story Nordea is offering Bitcoin ETP to their customers from October 30th. You may have missed this news. This will increase adoption for Bitcoin to a great extent and increase people's trust in Bitcoin to a great extent. I am giving some source links from where you can read the details.

https://www.nordea.com/en/news/nordea-to-offer-customers-access-to-an-exchange-traded-product-tracking-bitcoin
https://coinmarketcap.com/academy/article/bitcoin-etp-lands-on-nordea-platforms-this-december
https://crypto.news/nordic-regions-largest-bank-to-offer-bitcoin-etps-to-customers

[Reatim]

Recently Nordic bank is about offering Bitcoin ETFs (Bitcoin Exchange traded Funds) to its clients starting from December. I think the banking system are coming to realization about the backup potential of Bitcoin and they’ll try to utilize the opportunity by creating a Bitcoin investment platform directly managed by them for their client and will urge them to invest in Bitcoin.

bitcoin is getting more and more popular as days go by and the banks know that a lot of people are more interested in buying bitcoin now so instead of letting their customers find another platform they capitalize on the demand for bitcoin and keep their clients because clients mean more profit

I have not seen any news so far where any bank is offering Bitcoin ETFs to its customers. Even though op wrote a story here, he did not use any source link from which its validity can be seen. So I am not believing it so far that any bank is ready to accept Bitcoin and they are advertising it. The world is very positive about Bitcoin now but till now the banks are not ready to deposit or exchange Bitcoin directly. I was believing in this because till now I have not come across any such news from any trusted platform.

trying to find specific banks that offer bitcoin etf is hard because banks have other companies or institutions wherein they manage their assets and investments in and those companies are the ones that offer bitcoin etf and suggest it to their clients

[death69]

So it goes... The banks finally noticed...

They took ten years to refer to it as rat poison, terrorist money, tulip mania 2.0... and quietly buy, needless to say. They are now packing it, sanitizing it, wrapping it in a nice ETF package with fee structure that would make a loan shark get blushy. Custody fees! Transaction fees! Management fees! They are constructing toll booths at a highway that was meant to pass around them completely.

They are unable to kill it (eventually), thus, they are colonizing it (obviously). Making peer-to-peer freedom another product they can offer, another source of their revenue, another means of interposing between you and your own prosperity. Is it the same institutions that were bailed out in '08 that are now your reliable bitcoin custodians?

And, Saylor, yes, you are right about the price... But the actual price is sovereignty. Every sat you don't own is a sat you're paying rent to own. The banks are providing convenience. Bitcoin offers exit. Choose carefully. The window is still open, but it is closing. Not due to the impending demise of bitcoin, but because the on-ramps are being monopolized, being sanitized, being turned into another managed account.

Not your keys? What exactly are you purchasing then?

[MinoRaiola]

I think the banking system are coming to realization about the backup potential of Bitcoin and they’ll try to utilize the opportunity by creating a Bitcoin investment platform directly managed by them for their client and will urge them to invest in Bitcoin.

They have realized that they are no longer acting without. Bitcoin has become so valuable that they have to offer an option. The negative aspect of the whole thing is that banks do not offer wallets for their customers, they manage the bitcoins themselves. So that doesnt really make sense. At the end, it is not the peoples coins, it is the banks coins. That is not the plan, there should be no third party. But if this is only a temporary situation, then we should take advantage of it and in the future we hodl our bitcoins ourselves.

[yhiaali3]

The news sounds good overall, but I don't like the banks' move towards Bitcoin because Bitcoin, by its very nature as a decentralized system, is completely at odds with central banks.

Those who invest in Bitcoin through banks don't actually own anything. The banks will be the true owners of Bitcoin, and there won't be any difference because banks can freeze any user's Bitcoin and prevent them from making any transactions.

[Japinat]

Right, it's business after all, and they have this mentality of "if you can't beat it, join them". So that's why what we are seeing in today's cycle. But years ago, they are all against Bitcoin because it's a threat and they used a lot of FUD and attacks, like it's a scam, poison rat etc etc.

But then they realized that it's growing and whatever negative they say, it just fuel's people to invest on them. So now that institutional money are flowing into the market, they don't have a choice but to endorse it to their clients and think about the profits that they are going to make.

Agreed. They see BTC going strong anyways and numbers piling up, so they want to become part of said numbers

If they want to stay in the industry, then banks should adapt those current trends and services that will make their clients satisfied, otherwise they become extinct in the market and lost even their old and future clients that could bring money to them. But with their current offer advertising and accepting bitcoin, we already know that it will be hard for them to compete with bitcoin, so they will join and adapt it instead.

This is the move of every failing competitor, to make some adjustments and turn into adaption, rather than leaving the market weak and is losing.

[Dunamisx]

I don't see anything bad from banks advertising on bitcoin, because it's also a medium of exchange as a digital currency, which they both serve the same purpose of a currency, regardless of being fiat or crypto, some banks have already been allowed to do so before now while some are still awaiting on information from the central authorities to permit them do the same, this is not like gambling that could be strange for them to do so.

[Fara Chan]

I don't see anything bad from banks advertising on bitcoin, because it's also a medium of exchange as a digital currency, which they both serve the same purpose of a currency, regardless of being fiat or crypto, some banks have already been allowed to do so before now while some are still awaiting on information from the central authorities to permit them do the same, this is not like gambling that could be strange for them to do so.

Slowly, all banks will realize that Bitcoin is worth advertising so that all their customers will trust it while continuing to use fiat currencies as they normally would. However, when banks advertise Bitcoin, their trust will increase because they will also open up services to all customers who want to exchange fiat currency for Bitcoin through them, allowing the banks to profit from this service. So, there's clearly nothing wrong with this for banks, as they are also implementing a new strategy to seek profits, as they have long done with fiat currencies.

[Nwada001]

Those who invest in Bitcoin through banks don't actually own anything. The banks will be the true owners of Bitcoin, and there won't be any difference because banks can freeze any user's Bitcoin and prevent them from making any transactions.

This is exactly why the bank is coming into the business. Since they can't be able to stop people from investing in Bitcoin, they are now into dragging those people into doing it with them so as to keep them close, take their money, and give them an audio balance, which they will still have to decide when they can withdraw, how to spend, and can freeze/deny them access to anytime.

[Marvell1]

Those who invest in Bitcoin through banks don't actually own anything. The banks will be the true owners of Bitcoin, and there won't be any difference because banks can freeze any user's Bitcoin and prevent them from making any transactions.

Like people who invest in bitcoin through ETFs, they don't actually own bitcoin. But as we have seen, the money flowing into the market through ETFs is many times larger than the amount of money that direct investors who own bitcoin like us have. This shows that people don't really care about the decentralized nature of bitcoin nor about owning real bitcoins.

So, I think if we agree and have no problem with people investing through ETFs, centralized institutions like MSTR by holding their stocks instead of directly holding bitcoin. We should also not be upset when banks enter the market and people invest through them. In fact, I believe that investing in bitcoin through a bank is much safer than holding shares of companies like MSTR.

[Peanutswar]

Some of the local banks into my country are already adapted the use of the bitcoin this during the hype session of the bitcoin on that time, and my country is one of the people who keep supporting the use of the crypto but upon reviews some of the feedback came from the end-users are not really good because every time they want to make a deposit and withdrawal it tooks a lot of time and approval before it makes a confirmation and every time there's a huge market changes happen like a massive dump and pump people cant trade their coins and converted into a stable coins. Reason why they avoid now using the banks with crypto instead people still prefer international platform such exchange with crypto than banks.

[Johnlomape]

When the banks start to advertise bitcoin as a good investment, hence we should be suspicious then because its never the nature of a centralized institution to praise a decentralized asset or investment. It could be the result will leave them a highly favored outcome, or eventually they will blackmail bitcoin in the end, so we should be careful trusting banks for bitcoin. It's more safe to trust your own instinct, than to trust the known enemy of bitcoin.

Don't you think that bank is trying to sound secure for what they will be cooking for their customers? Many banks are now offering crypto transactions to and fro so that their customers can rely on them instead of relying on their safety and the nature of Bitcoin as a decentralized asset.By the time banks will fully incoperate cryptocurrency transactions to their networks, people will want to use them to buy and process their crypto transactions without thinking about the effects and traces it will link to people doing crypto transactions with us.

[VirDolorum]

Yea, they advertise first, then companies and funds take loans to buy BTC. Check Metaplanet for example, analogue of Strategy. Taking loans to buy btc even though they are in big loss: https://btcusa.com/major-bitcoin-holder-metaplanet-takes-on-100m-loan-to-buy-more-btc-despite-deep-losses/

[passwordnow]

So, I think if we agree and have no problem with people investing through ETFs, centralized institutions like MSTR by holding their stocks instead of directly holding bitcoin. We should also not be upset when banks enter the market and people invest through them. In fact, I believe that investing in bitcoin through a bank is much safer than holding shares of companies like MSTR.

I agree, it's 2-way round for each of us. The banks do what they have to do and us, we invest where we want to invest. But both of us are meeting in the middle and not taking it for granted if it's about bitcoin. We all hold it and keep for the long term and that's what they're doing as well. They don't waste their time into any of those dips because they continue to buy. But it seems this time that MSTR is missing it and they haven't done any action yet about any purchase when the market suddenly made a huge dip.