Well hello there! As y’all may know, I’m passionate about cryptocurrencies. Part of that crypto-fever is to follow crypto news. So, today I want to share with you some of what I think are the most significant stories to come out lately in the crypto universe, and see if I can’t get you fired up, too.
C’mon – you know you wanna go there.
Without further ado, here’s the news:
Goldman Sachs to Trade Bitcoin
Love it or hate it, Goldman Sachs is probably the most famous and prestigious investment bank in the world. So when Goldman does something, people take notice.
Well, it turns out that Goldman will begin to use its own money to trade contracts linked to Bitcoin. Beyond this first step, it also plans to look into trading Bitcoin directly in the future. Indeed, a Goldman executive told The New York Times that “…Goldman had concluded that Bitcoin is not a fraud…”.
A few days later, the Times also reported that “[s]ome of the biggest names on Wall Street are warming up to Bitcoin…the parent company of the New York Stock Exchange has been working on an online trading platform that would allow large investors to buy and hold Bitcoin”.
I think this just continues the trend of increasing adoption of Bitcoin and other cryptocurrencies. First came adult entertainment, and now Wall Street and the banks are starting to get in on the action. In my view, the technology is too groundbreaking to ignore, and I’m convinced it’ll be a part of the future. For example, check out this video on smart contracts (which has some salty language):
Florida County to Accept Crypto as Payment
So now we go from Wall Street to my favorite state (Florida), where Seminole County has announced that it will begin accepting Bitcoin and Bitcoin Cash “…for payments associated with driver licenses and ID cards, automobile tags and titles and property tax”. The Tax Collector “…decided to accept the cryptocurrencies in an effort to streamline fee collection, reduce the potential for fraud and identity theft and increase the transparency and accuracy of payments”.
Again, I think this just points to increased adoption of cryptocurrencies (and by a government, which may lend them an added air of legitimacy), and adds evidence to the notion that this is not some passing trend, but an important part of the future.
Robinhood Expanding Into Crypto
The last item today is the news that stock-trading app Robinhood is expanding into crypto, after receiving $363 million in Series D funding. What caught my eye here is that, unlike crypto-first exchanges like Gemini and Binance (affiliate link)*, Robinhood started out as a stock-trading app. So, the fact that it’s taken new funding to get in on the crypto action signals, as I see it, that it (and its backers) expect continued expansion in this space.
That’s all the news I want to highlight today. To wrap up, I leave you with this amazing video explaining how new technologies like crypto eventually come into mainstream adoption:
Friendly Dare: Read this post, and watch the two videos. Then, I dare you to tell me you’re not the least bit excited about crypto!
I believe in and own crypto.
*If you sign up for Binance using my link, I may get paid a commission.