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Wall Street Aims to Make Digital Assets More Acceptable

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Wall Street Aims to Make Digital Assets More Acceptable

Wall Street is willing to help cryptocurrencies gain acceptance among investors, merchants and consumers. To achieve this, a new platform for the easy trading, storing and spending of digital assets is in the making. 
 
This is not the first time Wall Street has shown interest in digital assets. Among its initiatives during the last two years has been the introduction of Bitcoin futures to help investors hedge their positions. New products and services have also been developed. For example an investment trust, which enables broader investor participation in the Bitcoin market. 
 
All these initiatives are intended to help digital assets, including cryptocurrencies, move from the “innovator” and “early adopter” stage to that of the “early majority.” According to the Rogers Curve, this stage signals that the demand for a product/service is turning into a cascade, and the product/service becomes an “epidemic.” In the case of cryptocurrencies this is clearly a good move, since an “epidemic” will mean increasing prices. The effect is even more positive, because usually cryptocurrencies come in limited supplies. There are risks, however. The involvement of governments, big banks and hackers could quickly overturn any positive effect.

08 Aug 2018

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