The New York Times reported that Intercontinental Exchange (ICE) which is the “parent company of the New York Stock Exchange has been working on an online trading platform that would allow large investors to buy and hold Bitcoin.”  The May 7, 2018 article entitled “Bitcoin Sees Wall Street Warm to Trading Virtual Currency” included a reference to the May 2, 2018 article “Goldman Sachs to Open a Bitcoin Trading Operation” in which “Goldman Sachs went public with its intention to open a Bitcoin trading unit — most likely the first of its kind at a Wall Street bank”:

In a step that is likely to lend legitimacy to virtual currencies — and create new concerns for Goldman — the bank is about to begin using its own money to trade with clients in a variety of contracts linked to the price of Bitcoin.

While Goldman will not initially be buying and selling actual Bitcoins, a team at the bank is looking at going in that direction if it can get regulatory approval and figure out how to deal with the additional risks associated with holding the virtual currency.

This may a huge event in the future of cryptocurrencies and Blockchain (the underlying technology that allows cryptocurrencies to operate)!

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