Known captainvalor and presenter of Fast Money, Brian Kelly (Brian Kelly) stated that the introduction of bitcoin on wall street — in particular, the listing on the NYSE or trading in futures on BTC Goldman Sachs — will increase growth of the cryptocurrency market.
The statement was made in the context of news that parent company NYSE ICE Exchange plans to open a full-fledged platform for buying, selling and storing bitcoins. Kelly said that being “in shock” from what the news has led to another boom in the market, he has noticed one detail overlooked by many investors:
“Dominique Chu (Dominic Chu) from CNBC said that means the physical delivery of bitcoins to investors. There is nothing particularly interesting, except for one thing: it means that the ICE Exchange found… a decision on custodian activities for institutional holders of BTC”.
He also noted that the achievement ICE Exchange actually marked the consolidation of the cryptocurrency the status of a new asset class. But most importantly, according to Kelly, is the social value of potential growth cryptoeconomy:
“Finally, this will open the way for pension and charitable funds. Up to this point, it was difficult for them to operate with cryptocurrency because of appropriate rules. But if the solution of ICE will hold a Commission on securities and exchange Commission (SEC), it will be a real squall.”
If Kelly is right, then institutional investors will bring tens of billions of dollars in the cryptocurrency market, triggering unprecedented change. When absolutely favorable developments, the total capitalization of cryptocurrencies can be tens of trillions of dollars.
No ICE Exchange nor the NYSE has not confirmed the information about the opening of the exchange, nor issued a retraction. Meanwhile, information about opening Goldman Sachs futures trading on the BTC was correct; it is known that they will start in the coming weeks.