Financial analyst and Manager of cryptocurrency hedge Fund BKCM Brian Kelly is convinced that the adoption of bitcoin the big players on wall street such as the NYSE and Goldman Sachs, will cause a rapid growth of the market of digital assets in the short and medium term. This writes the CCN.
In the beginning of this week it became known that the parent company of the new York stock exchange (NYSE) and one of the world’s largest financial corporations, Intercontinental Exchange (ICE) plans to develop a platform for bitcoin trading.
According to Kelly, he was “shocked” by the fact that the cryptocurrency market has not demonstrated rapid growth on the back of this news. He believes that the NYSE will offer institutional investors the storage services scriptactive that will compete with solutions from giants like Coinbase and Xapo.
“I’m actually a little shocked that the market did not react to it properly, says Kelly. — Exchange ICE has developed a system of storage of crypto-currencies within the company. It used to be a big problem, and prevented to enter the market to large investors. Now everything will change.”
Kelly also believes that developing a solution from the ICE Exchange to store bitcoin assets actually marks the emergence of crypto-currencies as a new asset class in which to invest billions of dollars in funds and other institutional investors.
“Now the market can log a charity and pension funds, which previously were afraid to work with cryptocurrency because of existing constraints. If the floor of the ICE Exchange will be approved by the SEC, it will be a real breakthrough”, concluded Kelly.
Earlier it was reported that leading investment Bank Goldman Sachs will launch a service for trading futures on bitcoin.