6 November 2017 | SUBSCRIBE
It has been 9 years since Satoshi Nakamoto wrote the now legendary whitepaper: Bitcoin: A Peer-to-Peer Electronic Cash System. It was the ‘first’ whitepaper, for the first blockchain, and bitcoin received an important birthday present this week to celebrate: CME group announced they should be offering bitcoin derivatives by the end of the year, yet another sign bitcoin is becoming a mainstream financial asset.
Futures will allow traders to hedge against bitcoin’s volatility and could increase the adoption of bitcoin by merchants who want to accept bitcoin but shy away due to its price swings.
But perhaps most Importantly, futures also open up the road for ETFs - exchange traded funds - which mark a milestone towards mass adoption. As it currently stands, a majority of the world still struggle with the complicated process of buying and storing bitcoin. Yet some of these individuals still want exposure to this asset class, and ETFs provide a mechanism to do this through purchasing shares in an entity that is traded on a ‘normal’ exchange, that then itself trades crypto.
It all meant bitcoin closed up nearly 30%, week on week. Happy 9th Birthday!
With celebrities from Mayweather to Paris Hilton joining the ICO bandwagon, the SEC issued an investor alert and public statement specifically addressing the issue. In short, if the coins are considered securities, these endorsements are likely also in breach of US securities law.
Last week highlights:
Upcoming:
How Blockchain is helping e-commerce businesses to protect their data. Bitcoin related-jobs are booming as fast as Bitcoin’s price growth.
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