Cryptocurrencies

Bitcoin Takes Two More Steps Towards Mass Adoption

This year, blockchain and in particular, Bitcoin made 10 years old.  Love my many, hated by many, Bitcoin is like that red headed stepchild just wanting some acceptance.  But the wicked godparents, the regulated bodies of the world still frown upon Bitcoin, the red headed stepchild. 

Bitcoin is the unknown to the regulatory environment and so their immediate response is no to everything.  It’s fear of the unknown, but also its fear over something they can’t control. Although Bitcoin is having some difficulties gaining mainstream adoption, the train has already left the station and is picking up steam.

Exchange Boerse Stuttgart, Germany’s second-largest stock exchange, has opened a regulated trading venue for digital assets, the company said.

Trading began today on Boerse Stuttgart Digital Exchange (BSDEX), a fully regulated digital asset exchange under the German Banking Act, according to a statement. As of now, BSDEX is trading only one pair, the bitcoin-euro.

“The market in cryptocurrencies is worth billions, and more digital assets will emerge on the basis of blockchain,” CEO Dr Dirk Sturz said in the statement. “Our goal is to build up the leading European trading venue for those assets.”

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Sunday evening, we also received more exciting news.  I’m excited because it’s another pathway for the Smart Money to enter the crypto space. Intercontinental Exchange’s (ICE) Bakkt platform was launched and opened for trading Sunday night. Bakkt is a first of its kind because settlement will be actual Bitcoins and because it’s regulated by the government, the Smart Money has another option to get into the space. Bakkt is offering one day and 30 day bitcoin futures contracts.

And according to Coin ATM Radar, there are over 3000 ATMs where you can buy Bitcoin.  And if you are looking to buy one whole Bitcoin, expect to pay roughly $9700.

But if you wait a little bit, you might be able to get it cheaper at $9200.

The Bitcoin train is pulling into the next station momentarily.  The question is, will you get on train or watch the train leave the platform again?  Lets make Satoshi Nakamoto proud and all get on the train as there is plenty of room left with a several empty seats remaining and plenty of standing room….while maybe not.

Image result for bitcoin train

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This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.

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