Cryptocurrency Revolution Has Spread To Wall Street
While Warren Buffett touts that he likened Bitcoin to “rat poison ” this week, the owner of the New York Stock Exchange (NYSE) is planning on letting customers buy and hold Bitcoin, The New York Times reported late Monday, May 7. This news comes just days after the publication quoted a Goldman Sachs executive, who appeared to confirm the Wall Street Investment Bank would debut Bitcoin futures “within weeks”.
The move would be the second Wall Street giant in a week to reportedly open up to crypto. The Intercontinental Exchange, Inc. (ICE) “has had conversations with other financial institutions about setting up a new operation through which banks can buy a contract, known as a swap, that will end with the customer owning Bitcoin the next day – with the backing and security of the exchange,” the Times wrote late Monday.
Bitcoin BTC-USD based on a modified Bradley forecast method that measures both the Geocentric and Heliocentric potency of major planetary aspects.
Galaxy and Bloomberg launched the Bloomberg Galaxy Crypto Index (BGCI) today. The new Wall Street index fund tracks the performance of 10 digital currencies:
Current Cryptocurrency Weightings
Bitcoin Cash 10.65%
Ethereum Classic 1.00%
“It’s almost essential for every investor to have at least 1% to 2% of their portfolio” in crypto, Novogratz, the CEO, and Founder of Galaxy Digital Capital Management told Maggie Lake on “Markets Now” on Wednesday. Novogratz said it’s “almost irresponsible” not to invest in Bitcoin
Bloomberg clients can access the index using the ticker BGCI Index.
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