When they say one thing, yet do the opposite. In September 2017, one of the most famous faces in finance accused Bitcoin of being ‘ ’ He threatened employees with the sack if any were found to be trading it. a fraud. duly crumbled some 24%. Bitcoin’s price Fast-forward just a few months, and JP Morgan, run by Chief Executive and ‘Chief Bitcoin Criticizer’ Jamie Dimon — alongside Morgan Stanley — were revealed to be the of Bitcoin funds in Europe. Yet, this isn’t strange behavior on Wall Street. largest buyers In fact, Dimon has continued his back-and-forth between a position of and . And while you might be right to question the ethics behind his words, you could do well to follow his company’s actions. support condemnation For therein lies the truth behind mainstream opinion on the . blockchain The Rise and Fall and Rise of Cryptocurrency The evolution of Bitcoin — or, cryptocurrencies in general — has been volatile. Yet from modest beginnings , this much-criticized technology is emerging as a genuine candidate . trading at a paltry $0.003 future of money Be it supporting existing payment solutions or upending banking, blockchain technology promises radical upheaval. Bitcoin, Ethereum, and a host of other cryptocurrencies are making in the real world. While over now list upwards of , highlighting the potential scope of blockchain applications. genuine headway 500 exchanges 2,000 coins New exchanges pop up by the day, across the world, showcasing the widespread appetite to invest, as process billions-of-dollars in trades. leading operators Every. Single. Day. A volume that doesn’t even account for the . Whales of Wall Street Do As They Do, Not As They Say Despite what the world of finance is , their actions give insight into their true beliefs. saying In January of this year, billionaire currency speculator telling investors not to buy, and the Bitcoin price dropped by 44%. George Soros labeled cryptocurrency a ‘bubble’ Then, three months later, the , showing just how quickly financiers can . Soros family office approved in-house cryptocurrency trading have a change of heart On February 7th, causing the Bitcoin price to fall by 27%. Goldman Sachs warned ‘most cryptocurrencies will crash to ZERO,’ Yet, despite the negative outlook, : a start-up with crypto-ambitions given its acquisition of the Poloniex exchange — the perfect counterpart to , perchance? Goldman still invested in Circle $400 million Goldman’s own trading desk And there’s a significant precedent for similarly supportive actions throughout Wall Street: Billionaire hedge fund manager Stephen Cohen , whose net worth is $14bn, bought into Bitcoin around $6,800 Avenue Capital Group CEO Marc Lasry has invested 1% of his $1.7bn personal fortune into Bitcoin around $7,500 Even VC firm Andreessen Horowitz — investors in Airbnb, Skype, and notably, Coinbase — have put $300 million into a cryptocurrency fund However easy it is to cry ‘bubble’ as markets crash; when global institutions known for generating billions in profit start knocking on an asset’s door, it’s time to take note. Bankers’ words might come cheap — their investments, less so. Blockchain Is More Than A Speculative Bet It’s not just financiers tailing the tech: countless industries have turned to decentralized services, hoping to ease the pains that other solutions can’t. Payments Gateway Following legalization in Canada, the cannabis industry is on its own growth trajectory. However, marijuana’s Schedule I status makes it hard for banks to work with state-regulated businesses, shrinking the payment options in a multi-billion-dollar sector. Blockchain platform , using to process transactions. Alt Thirty-Six solves the issue through its e-payments network Dash The solution offers cannabis retailers a means of scaling via a secure, fast, and low-cost network — one that could ultimately render the entire space ‘cash-free.’ Funding Mechanism Professional sport is capital-intensive, requiring significant investment to reach the top. To level the playing field, , offering ambitious athletes and teams an alternate route to the next level with investors earning a return in the event of future sporting success. SportyCo has developed a smart contract-powered crowdfunding platform Ronaldinho and Roberto Carlos are both on board, appreciating what early funding can mean to an aspiring athlete’s prospects. Lifestyle Enabler The explosion of cryptocurrencies has created countless millionaires worldwide. Yet, there are few places where such a clientele can put their funds to use. through a multi-faceted approach with the proposition including a ground-breaking online ATM. Here, clients can exchange fiat and cryptocurrencies into EUM — Elitium’s native currency — to use within the Elitium Network, before converting funds back into fiat. Elitium is transforming luxury lifestyles The network revolves around its all-inclusive lifestyle app where clients purchase luxury goods and services via a secure, low-cost payments platform. In basing its services on the blockchain, Elitium removes the inefficiencies of the luxury sector, as it has already achieved in yacht rental — using and smart contracts to reduce service providers’ reliance on paperwork, identity verification, fund transfers, and more. cryptocurrency By adding features such as an AI-powered personal assistant — and combining technologies in a single app-based innovation — Elitium is becoming the ultimate luxury lifestyle-enabler. The Cusp of a Revolution? The : blockchain technology is finally proving its worth. signals are positive Projects are making headway, integrating solutions to overcome deep-rooted problems that, until recently, could not be solved. While financial institutions are positioning themselves to capitalize on the progress — market crashes merely presenting further opportunity to invest. Finally, one year on from claims of fraud, are we moments away from blockchain’s breakout? Wall Street seems to think so.

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What the Whales of Wall Street Aren’t Telling You

What the Whales of Wall Street Aren’t Telling You

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