Categories: Bitcoin Business

Wall Street Could Change The Game For Bitcoin Again

Click here to view original web page at www.forbes.com

A new product from Wall Street could change the game for Bitcoin in 2019. And, perhaps, help its price to rise again.

Wall Street is seeking regulatory approval of a new Bitcoin’s futures contact. It could help reduce the price volatility of the digital currency.

That’s according to a recent story published on Friday's Wall Street Journal. Launched by the Intercontinental Exchange, the new contract will be settled in Bitcoins rather than in dollars.

Reducing the price volatility will pave the way for the digital currency to be accepted as a means of payment in everyday transactions. Like the buying of coffee in Starbucks and Dunkin Donuts outlets.

If approved, these contracts will be a bullish development for the “people’s currency.”

Bitcoin in USD Koyfin

Starbucks and Dunkin Brands have been talking about accepting Bitcoins instead of dollars in their stores.

Apparently, accepting Bitcoin as a form of payment for their products will fuel a great deal of buzz for the two franchises. That’s especially the case among young consumers enchanted with the digital currency.

This isn’t the first time Wall Street has tried to change the game for Bitcoin -- last year, Wall Street introduced its first Bitcoin futures contracts. But those contracts were settled in dollars rather than in Bitcoin.

Starbucks, Dunkin Donuts, and any other merchants concerned about this prospect can short Bitcoin Futures. This means that any losses in the spot market will be made up in the Futures market.

Meanwhile, Wall Street has introduced other products that allow broader investor participation in the Bitcoin market, like the Bitcoin Investment Trust.

All these products could help the digital currency move from the “innovator” and “early adopter” stage in the Rogers Curve, to the “early majority.” That's when demand for a product turns into a cascade, and the product becomes an "epidemic."

And that would be good news for Bitcoin bulls, as an “epidemic” means higher Bitcoin prices, especially since Bitcoin is in limited supply.

Provided, of course, that big governments, big banks, and fraud do not spoil the party again.

[Ed. note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment. Disclosure: I don't own any Bitcoin.]

Wall Street is seeking regulatory approval of a […]

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