Matt Roszak called launching of a Bitcoin index on the New York Stock Exchange (NYSE) a major milestone – and he is right. While regulators eye the emerging realm of cryptocurrencies across the world, private markets are acknowledging the opportunity and pushing Bitcoin (and other digital cash) into legitimacy and broad acceptance.
Roszak says “everyone on wall street has Bitcoin on their whiteboard”. He calls Bitcoin a change agent for finance and sees blockchain enabled technology to evolve into trading other types of digital assets. Roszak’s enthusiasm is countered by Win Thin, a banker from Brown Brothers Harriman. Thin is a currency strategist and he is of the belief that Bitcoin really doesn’t fit in traditional values of a currency. (Perhaps we should go back to the barter system?)
Thin is correct that it is a developing and evolving form of value transfer.
While I don’t expect my grandmother to start trading Bitcoin anytime soon, the young among us have been quick to embrace what makes Bitcoin so alluring.