There have been a number of important announcements recently and I for one am making note of them with interest as I slowly shift more of my assets to Cryptocurrency and Bitcoin specifically.
Off the top of my head here are a few that stand out and a bit about the impact they might have on the growth and integration of Cryptocurrencies.
CoinPayments, the world’s leading cryptocurrency payments processor, today announced a new strategic partnership with Shopify. Vendors will now get paid faster in any of the 1,800 cryptocurrencies supported by CoinPayments while gaining access to untapped markets globally. This partnership further enables cross-border payments, allowing merchants to eliminate the hassle of working with multiple payment processors across different jurisdictions.
In September 2017, JPMorgan Chief Executive Officer Jamie Dimon called Bitcoin a “fraud” and threatened to fire any employee caught trading it. He later said he regretted the comments and has repeatedly said since that he sees many ways for the bank to use blockchain technology.
May 12, 2020 – JPMorgan Is Now Banking for Bitcoin Exchanges Coinbase and Gemini. For those of you that do not know, the Gemini Exchange is owned and operated by the Winklevoss twins of Facebook fame who could have chosen anything with their billions. They are both outspoken advocates of Bitcoin and blockchain.
Here are some informative quotes from a few key old school finance folks. All board members of major cryptocurrency businesses.
LARRY SUMMERS – Secretary of the Treasury under President Bill Clinton
“Until now whenever we’ve needed to transfer money we’ve had to rely on a third party, whether it be a bank, a clearing house or a payment network. Bitcoin offers, for the first time, a method for transferring value and making payments from anywhere to anywhere, in real-time, without any intermediary. This could mean we soon see many billions of people sending bitcoins every day as easily as they currently send a text message.”
DEE HOCK – Founder of Visa
“Bitcoin represents not only the future of payments but also the future of governance” “We live in the 21st century but are still using command and control organizational structures from the 16th century. Bitcoin is one of the best examples of how a decentralized, peer-to-peer organization can solve problems that these dated organizations cannot. Like the Internet, Bitcoin is not owned or controlled by any one entity, so it presents incredible opportunities for new levels of efficiency and transparency in financial transactions.”
JOHN REED – Former Chairman at Citibank Oversaw the invention of the ATM
“Financial services have remained largely untouched by the digital revolution,” says Mr. Reed. “Bitcoin represents a real opportunity for changing that. Money at its core is simply a ledger for keeping track of debts and Bitcoin is truly the best iteration of a universal ledger we’ve ever seen. The mere fact that there will never be more than 21 million bitcoins and that each bitcoin can be divided into 100 million units makes it a significant improvement on any historical form of currency.”
We are still in the early Wild West days of blockchain and Cryptocurrency so only invest what you can comfortably afford to lose but get in the game and build your Bitcoin portfolio a a hedge against pretty much everything.
Take a closer look at Mirror Trading International which is an exceptional place to hold and grow your Bitcoin. They offer an exceptional affiliate 2.0 program as well.
There are rumblings of some large institutional investors eying Bitcoin so stay tuned.
