Alex Valdes, a trader at the New York Stock Exchange told a Yahoo Finance reporter that for the moment "Bitcoin was very unstable" after the arrival of a new BTC Bakkt regulated exchange for the Intercontinental Exchange (ICE), the NYSE parent company.
Valdes is a senior partner in the international advisory firm Silverbear Capital and also develops an operator role for the NYSE. At the meeting with Yahoo Finance, he expressed concern over BTC, when asked if the Bakkt launch could be a sign that Wall Street is serious about cryptography.
Specifically, Valdés said :
"How do you protect your Bitcoins? These wallets seem very doubtful. If someone pirates you, you are bankrupt. So, I think Bitcoin has a long way to go for the average person to get involved. Maybe in some emerging markets you can see that it strengthens with a little more force. But I think it will not return to its $ 20,000 mark. "
Recently ICE announced its plans to establish an "open and regulated" global ecosystem for digital currencies driven by Microsoft's new cloud. Your first use cases will be for the negotiation and conversion of BTC to fiat currencies.
According to the documents, Bakkt will include federally regulated markets and storage along with commercial and consumer applications. ICE says it intends to design Bakkt to "support transaction flows" in the cryptocurrency market and facilitate its security, evolution and security.
Certainly, the opinion of Wall Street investors regarding digital assets has been changing compared to previous years. Goldman Sachs CEO Lloyd Blankfein, who had repeatedly stated that BTC "is not for him," pointed out in May that a dedicated research team was studying how Goldman could provide a range of cryptocurrency-based products as a result of the customer demand.
Even last month, the world's largest tradable fund provider (ETF), BlackRock, announced the alignment of a working group to evaluate the possible participation of the entity in BTC. While a spokesman said the company has been "looking at Blockchain for several years," he did not mention the cryptocurrency.
Little Bit Bitcoin seems to have been leaking in a positive way in the opinion of the experts. This fact could be considered hopeful for the future of the ecosystem, although this really does not guarantee anything at all.
Source: CoinTelegraph