Mainstream Investors Begin Accepting Bitcoin as a Valuable Asset
The cryptocurrency market continues to gain in value and acceptance in mainstream investments. Over the last 6 months, large companies like PayPal, Square, and Tesla have begun to offer cryptocurrency services or taken large positions in Bitcoin. The cryptocurrency uptrend continues to gain momentum as Morgan Stanley begins offering its wealthy clients the opportunity to invest in Bitcoin. Several other large banks, including JP Morgan Chase, are now offering Bitcoin business services to their customers. This is ironic considering the CEO of JP Morgan Chase, Jamie Dimon, called Bitcoin “a fraud” in September 2017.
The ever-increasing acceptance of digital assets and cryptocurrency at the individual and corporate level needs to approach with knowledge and caution. There are currently over 2000 cryptocurrencies and the majority will not survive over the next 5 years. Having the knowledge to select the “right” coin and when to enter or exit a position will be critical for financial success for large investment firms and individuals seeking to gain wealth. Luna Vulcan provides insights into the market in order to educate and protect new cryptocurrency traders in this rapidly changing asset class.