Bitcoin Foundation Cofounder Says Bitcoin Will Rise Again with Goldman Sachs Offering Futures and Options

“To the people who say bitcoin’s a bubble, I would say bitcoin is the pin that’s going to pop the bubble.”

These are the words of Jon Matonis, co-founder and executive director of the Bitcoin Foundation, who thinks that bond and equity markets are the actual bubbles which are overseen by central banks, while Bitcoin is the product which consumers need in order to save themselves from the said bubble.

While Matonis was not shy of sharing his skepticism on the traditional financial markets as he spoke to Business Insider, he was also quick to mention that major names from those markets entering the cryptocurrency industry could change things for the better.

He mentioned that it will be a good thing because firms such as Goldman Sachs would only prove to bring more products and cryptocurrency related services to the end user, which would also bring the promise of new options of liquidity with it.

And according to Matonis, that increase in liquidity options is one of the major aspects that will be able to drive Bitcoin’s prices higher again. He is also of the opinion that Bitcoin will not just stop with a few investment products, but could give birth to a financial market of its own through these institutions.

“They’re going to develop futures markets, options markets — I even think you’re going to start to see interest-rate markets around bitcoin.” He elaborated.

He further mentioned that regulators seem to be confused when it comes to Bitcoin, and that is only due to how they are not used to how this new financial product works.

Due to these reasons, Matonis suggested that buyers should be allowed to do their own research and make their own decisions based on their assessment of the risk that comes with cryptocurrency investments.

Speaking of those investments and especially initial coin offerings (ICOs), Matonis said that they should simply be considered as another model of fundraising for new startups and not be complicated. He stated that the ICOs are in themselves a new phenomenon, which makes it hard for regulators to control them through their current set of definitions and that is what drives the regulatory complications behind them.

Goldman Sachs in Crypto

Goldman Sachs has been making moves in the crypto industry with Circle and the recent Poloniex acquisition .

These investments and further movements by the company to get into the crypto space mean that a regulated company is not just actively looking at different ways to get into the market but is taking steps to implement actions through investments and acquisitions.

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By | 2018-04-24T16:49:00+00:00 April 2nd, 2018|News|0 Comments

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