Morgan Stanley became the first of the American largest banks, which offers customers with access to investment funds related to cryptocurrency. Representatives of the Bank's leadership have already shared this news with top management. Clients are offered three funds - two from the cryptocurrency company billionaire Mike Novogratz called Galaxy Digital and the third, created by the joint efforts of Nydig and FS Investments. It is assumed that the innovation will be another bridge between large investors and the blockchain-assets market. We tell about the situation more.
Note that the desire of banks to interact with cryptocurrencies is not new. For example, in January of this year, the representatives of Goldman Sachs said. Judging by the sources, bankers want to create an infrastructure for storing cryptocurrency of large customers and make money on it. That is, in the future, less experienced users will be able to give their coins to storage banks. And such a prospect seems to be at least funny.
What banks support cryptocurrency
The minimum investment size for Galaxy Bitcoin Fund LP and Galaxy Institutional Bitcoin Fund LP is 25 thousand and 5 million dollars, respectively, reports Decrypt. The minimum entry threshold for customers FS Nydig Select Fund should be 25 thousand dollars, however, the Morgan Stanley leadership will allow for cooperation with the Foundation only those customers whose bank account is larger than 2 million dollars. In addition, regardless of the volume of investment, the Bank's clients will not be able to invest more than 2.5 percent of their capital in a crypt.
That is, it becomes obvious here that only major investors will be able to contact cryptocoluts through a well-known bank. In addition, they will not be able to go Wa-Bank and put too large amounts into coins: a restriction will be 2.5 percent of total capital. Obviously, thus the financial institution insures customers from the volatility of the coin market, that is, sharp changes in the value of its assets.
Note that against the background of the recent growth of Bitcoin above 50 thousand dollars, many financial institutions were seriously interested in the potential of digital assets. However, they were ahead of large companies in MicroStrategy and Tesla, whose volume of investment in cryptic mines is already calculated billions of dollars. It is likely that in the future financial institutions will only expand the infrastructure around the digital assets market.
We checked the latest data: the largest holders of bitcoins among public companies are really Microstrategy and Tesla. At their disposal there are 91 326 and 48,000 BTCs at 2.21 and 1.5 billion dollars, respectively. The third in the ranking is the Galaxy Digital Holdings Foundation - he has 16,402 Bitcoin.
Bitcoins at the disposal of large companiesYou will get acquainted with current information on the cryptocurrency savings of giant companies. Representatives of the CoingEcko platform are followed by the activity of such companies and their cryptocurrency investments.
However, not all in the circle of large investors share a positive opinion regarding blockchain assets. A vivid example of this can serve as a fresh application analytics Bank of America Francisco Blancher. According to him, Bitcoin is "exclusively a volatile asset" and it is practically impossible to apply in real life. According to the expert statement, the cryptocurrency allegedly is a terrible means to maintain capital and a bad exchange agent, according to Cointelegraph.
Blanche also noted the low bandwidth of cryptocurrency. It can process only 1,400 transactions per hour compared with 236 million transactions processed by Visa in real time. Contrary to the popular belief that the fixed proposal of Bitcoins at 21 million coins in time will inevitably lead to an increase in their price, Blanche argues that the price of BTC is determined by supply and demand. Consequently, the asset is entirely dependent on the oscillations of demand. In other words, even the fastest growth of Bitcoin can be "erased" the global market correction.
Some of the notes are really relevant, but they all do not matter at the stage of sharp market growth. The advantages of cryptocurrency were obvious long before the current Bullman, and those who were taken into account were able to earn a huge capital until today. Critics as you like to try to attack Bitcoin, but the fact remains a fact: in the long run, the main digital asset demonstrates only growth.
We believe that a bright contrast in relation to cryptocurrencies from banks confirms the youth of the industry and its huge prospects for further development. Judging by the previous experience, impede the spread of technologies in the end it turns out to be harmful. And above all - for those who do this.
What do you think about this? Share your opinion in our cryptocat of millionaires. There will discuss important events that are associated with the coin industry.
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