Home Blockchain Fintech Strategist to Investment Advisors They Need to Get Familiarize on Blockchain and Crypto

Fintech Strategist to Investment Advisors They Need to Get Familiarize on Blockchain and Crypto


In a discussion with CNBC, yesterday, Lex Sokolim, Fintech Strategy Global Director at Autonomous Research said that investment specialists need to familiarize themselves with cryptocurrencies and its underlying system. Sokolin argued that traders and investors will buy BTC whether advisors like it or not, so both financial advisors and individuals have to adapt to the trend.

Crypto is very divisive, and it is always here to stay regardless of its issue. Lex stated that the underlying blockchain system is really essential to the kinds of business that people are developing at this point in time. Sokolin also commented that the wild instability of cryptocurrency market would not be sensible to go and fill your whole portfolio with virtual currency. On the other hand, he recommended that investing in digital assets is a smart way to add options to your broad allocation, something like three percent to five percent of your portfolio. Investing in this kind of asset can help your company grow.

The conventional economic sector has previously been doubting and skeptical of the growing cryptocurrency business, with renowned Wall Street Banks like Merril Lynch prohibiting their economic specialists from purchasing Bitcoin-related investments for their customers. They went so as to prohibit customer’s access to the BTC futures agreements provided on CBOE and CME.

The skeptical approach of Wall Street towards virtual currency was demonstrated by Jamie Dimon’s, Chief Executive Officer of JP Morgan, outspoken firing of BTC as a scam last year, a comment he soon claimed to regret softening his stand to one of affirmed indifference. Jamie Dimon commented that he wasn’t interested in the subject at all.

Months later, Wall Street has started softening its stand on virtual currency. Goldman Sachs, investment banking giant announced that it would offer some agreements with BTC exposure, before allegedly providing crypto trading.

According to the reliable source, New York Stock Exchange (NYSE), owner might soon provide swap agreements in Bitcoin Cash, suggested that the main custody and safety hindrances to major institutional investment in the field of cryptocurrency are being conquered. Beyond the United States, Nomura a global investment bank located in Japan showed a digital asset protection solution for institutional patrons, the recent past.

Blockchain system has made the same headlines this past couple of days, with the technology giant cloud computing arm, Amazon Web Services, launching a joint venture with a ConsenSys blockchain startup to provide basic blockchain cloud platform to its customers.

Read more about:
Share on

Sydney Ifergan

Sydney has 20+ years commercial experience and has spent the last 10 years working in the online marketing arena and was the CMO for a large FX brokerage.

Crypto newsletter

Get the latest Crypto & Blockchain News in your inbox.

By clicking Subscribe, you agree to our Privacy Policy.

Get the latest updates from our Telegram channel.

Telegram Icon Join Now ×