Wall Street’s Internal Tracking of Bitcoin and Digital Asset Acceptance

There is no longer any question that Bitcoin is here to stay. Why is it a little confusing? The answer is very simple. Wall Street found the money.

That last sentence should be interesting to Bitcoin proponents and anyone obsessed with the digital asset class. Bitcoin
Bitcoin
after all, was made for money.

On October 31, 2008, a mysterious and unidentified Bitcoin developer using the widely believed pseudonym Satoshi Nakamoto described the digital cryptocurrency in a white paper titled “Bitcoin: Peer-to-Peer Electronic Cash.'' did. system. “

It is not surprising that the leaders of the world's financial institutions have read this white paper, studied Bitcoin's behavior over 15 years, and converted to the belief system that Bitcoin will have a fundamental impact on the global financial system. You can There's no reason to believe this didn't happen.

In fact, this is pretty close to what Larry Fink, CEO of BlackRock, believed to be the world's largest asset manager, said in an interview with CNBC's Jim Cramer.

Larry Fink said: I studied it. Knowing that, I went home saying, “Okay, my opinion five years ago was wrong, this is my opinion today, and I believe today is my chance.'' I believe that Bitcoin is legal…Bitcoin is a legal financial instrument that allows you to earn uncorrelated types of profits. ”

But there is another explanation that is equally plausible. It means the global financial institution simply listened to its customers.

As of October 2024, Bitcoin's market capitalization is over $1.2 trillion. There may be reasons to be skeptical about Bitcoin, and even more when you consider the broader crypto world, but assets worth over $1 trillion are inauthentic and meaningless. You can't deny that.

Young traders are taught that markets have momentum and that momentum and market sentiment can be more important than fundamentals. Experienced financial market participants know that markets are like trains, and they don't get in the way of a freight train in the mistaken belief that they know exactly where it will stop. It won't. Bitcoin is a moving train. Skeptics should take note.

Customers from all walks of life, from retail stores to institutional investors, are showing interest in Bitcoin. More importantly, these customers are demanding that financial services institutions provide access to Bitcoin in a manner consistent with other established financial assets. Listening to these customers is why my company, Levelfield Financial, is in the process of acquiring a US chartered bank. We want to provide a safe, simple, and secure experience for our customers who want to participate in the digital asset class.

Financial institutions, especially large Wall Street companies, exist to serve customers. If a company does not provide the product or service that customers requested, there is a good chance that those customers will move to other companies that offer the desired product.

For financial institutions, meeting customer needs is how they generate revenue. All products and services sold to customers provide value to the company in some way. In other words, financial institutions make money by selling products to customers that they want to buy.

Customers say they want access to Bitcoin products. Financial institutions are faced with a choice. Failing to offer such products may jeopardize relationships with customers, but companies can make money by providing products that customers want.

Wall Street giants may be turning to the future of cryptocurrencies based on extensive research and the belief that this asset class represents a significant improvement over the status quo.

Alternatively, the simple explanation for why so many companies support Bitcoin may be that they are simply reacting to overwhelming demand from their customers. After all, strong demand for products can lead to huge profits.

Occam's razor suggests that the simplest explanation is usually correct.

The original structure of the market is for financial institutions to serve customers and earn profits during that time.