Satoshi Nakamoto’s cryptocurrency, despite trading at around $ 32,000 at the time of writing, is a phenomenon in the process of expansion and development. Thus, as evidenced in the tweet of the day, more and more large firms offer financial services with crypto assets; an element that shows how Bitcoin conquers Wall Street.
Bitcoin intrudes into the financial world
As revealed in the latest DocumentingBTC post, Bitcoin has become popular within the most renowned banks in the United States. It is worth remembering that during the month of March, Morgan Stanley was presented as the first great institution within the American power, to adopt cryptoassets as the center of some of its financial products.
Since then, other corporations have allowed Bitcoin to conquer Wall Street. Similarly, Goldman Sachs and JP Morgan have opened up possibilities for generating exposures with the creation of Satoshi Nakamoto; although it is worth saying, not as quickly and confidently as Morgan Stanley has done so far.
Some banks take more timid steps towards the adoption of Bitcoin. A clear example of this is Bank of America; that while it is true that it has starred in controversy regarding its strong criticism of Bitcoin, it is also fair to say that the firm allows its clients to speculate on the future performance of the cryptoactive.
“Bitcoin has caught up with Wall Street”.
Likewise, others like Citigroup seem to understand the great potential that cryptocurrency has. In this way, although at present they do not offer any type of service in Bitcoins, the entity seems to be preparing to join the growing list of corporations that will provide the cryptoasset with its much-needed institutional support. Other big names like Deutsche Bank and UBS have also exhibited their interest in being part of the crypto-trend.
In sum; Satoshi Nakamoto’s creation seems to be a phenomenon that, despite its current bearish moment, is too great to be stopped. The presence of Bitcoin within these large corporations shows this reality first-hand; reason why, as DocumentingBTC comments in the tweet of the day, it is valid to affirm that Bitcoin conquers Wall Street.