In the United States and Japan, bitcoin is recognized as a financial instrument. What's next?


Recently it became known that the largest international operator of futures exchanges CME Group (Commodity Exchange Chicago Mercantile Exchange) plans to launch Bitcoin futures contracts already on December 18 this year. In addition, the CFTC also granted permission to run bitcoin futures for CFE. Another exchange, Cantor Exchange, soon plans to offer investors bitcoin binary options. And this news does not end there. As it turned out, NASDAQ is also planning to launch such futures contracts. Not anymore this year, but next.

True, Adena Friedman, Chief Operating Officer of the Exchange, claims that now the issue of launching a new type of futures is in the process of discussion. Bloomberg also reports that the Tokyo Financial Exchange is going to launch cryptocurrency futures, and in the near future. In order to do this, it is necessary to adopt the appropriate amendments to the legislation. While the process is underway, the Japanese are creating a special working group that will study Bitcoin and its impact on financial markets and society.

Well, as a message to complete this compilation of news on futures, it is worth mentioning that the Financial Services Agency of Japan approved four more applications for opening cryptocurrency exchanges.

Well, and so what?

The fact is that while Bitcoin has not been widely used "among the people." This is not a generally accepted means of payment, not a currency. Rather, it is a speculative tool that, with the proper ability to quickly obtain a multi-interest profit in the form of an already fiat currency.

Now, when the largest exchanges declare their intention to ensure the possibility of spreading bitcoin futures, it becomes clear that the traditional financial sector is interested in cryptocurrencies. Why did the structures mentioned above choose Bitcoin, not ethereum, or, say, Monero? The fact is that the capitalization of Bitcoin is now the maximum, it is a record holder in the world of cryptocurrency. It is clear that financiers are interested in reliable ways to make a profit, and Bitcoin, as far as can be judged, is just such a tool.

The same can be said about binary options. Institutional financial institutions are clearly going to enter the cryptocurrency market and settle tightly there. However, Bitcoin has not yet been distributed as a means of payment. In general, the same can be said about precious metals and diamonds. Of course, they are sometimes used for settlement, but it’s obviously not possible to buy pizza for a grain of gold - the pizzeria does not have tools for assessing and accepting such a payment. The situation with Bitcoin is similar. So far, it remains a tool for the accumulation and increase of capital.


What about the course?

Yes, this is an interesting question. The Bitcoin rate against the dollar constantly beats all new records (although there are moments when the rate falls). Cryptocurrencies generally have high volatility, and in the case of the appearance of positive or negative news, it is even more enhanced. Somewhere bitcoin forbid - the course falls. Approved as an official financial instrument - the course is growing.

After it became known that financial structures are planning to start working with Bitcoin, its value went up. At the end of November, the psychological threshold of $ 10,000 was overcome, then a small rollback followed, and then a record take-off again. Now the course is getting close to $ 12,000 and continues to grow.

Actually, one does not need to be an expert to predict such a development. But only the expert can determine the possible limits of growth. And this is much more complicated. Probably, with the current dynamics, a ceiling of $ 20,000 will be broken through somewhere in the spring of next year.

Traditionally, with the onset of the winter holidays, the activities of financial institutions (and not only them) are frozen for a certain time. So the real picture of the behavior of the Bitcoin course can be monitored for another 1-2 weeks, and then everything “thaws” only by February.

Until now, cryptocurrencies are considered something unusual and even dangerous for financial institutions. Partly it is, because the legislation of some countries does not accept either Bitcoin or altcoins. In some countries, the possibility of working with cryptocurrencies is only beginning to be considered. Financiers are waiting for the decision of the legislators, their reactions. If suddenly the widespread approval of cryptocurrency begins, then, most likely, financial organizations will also invest in this area in the most active way. In the meantime, cryptocurrencies for financiers is a somewhat dangerous, albeit an interesting experiment. From the results of this experiment will depend on the future of Bitcoin, albeit as a speculative tool, not a means of payment.


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