Since its invention in 2009, Bitcoin has seen a tremendous increase in its market value. It has emerged as the most successful cryptocurreny and is leading every other in terms of market cap. Despite many ups and downs in the value of this digital currency, it has maintained a stable and a positive growth can be estimated.
Beginning this year at a high value of $3850.91, the current high value $8,029.96 suggests a better future for the cypto market and the blockchain technology. On 14th May 2019, a massive $8207 high value was recorded with the current market cap more than $140 billion.
Chief Investment Officer at Ikigai Asset Management, Travis Kling, had an interview with financial news broadcast channel TD Ameritrade Network conducted by Oliver Renick to discuss this gigantic leap in the price of Bitcoin.
In the interview, Kling talked about many effective factors that helped in forging a bright future for the cryptocurrency since this year’s start. They discussed the JPM Coin introduced by the JP Morgan group and the FB coin by Facebook. Even reports from Cambridge Associates propose that big institutions like Facebook and JP Morgan Chase & Co. were eventually going to venture into this scenario.
Kling gave examples of customers at TD Ameritrade and eTrade Financial Corp. having the ease of trading bitcoins on their designated platforms. Fidelity Digital Assets also released the news of its joining with brokerages like eTrade and Robinhood in view of handing out trade in cryptocurrencies by their clients.
Kling and Renick also discussed the launch of bitcoin futures contracts developed by Bakkt in synergy with ICE Futures U.S. and ICE Clear U.S. He insisted it is “much more attractive to own insurance policy against irresponsibility” when talking about financial policy news from central banks and the governments.
He concluded by referring initiatives by TD Ameritrade, Fidelity, and eTrade as “positive catalysts” for the growth of the bitcoin industry.