Lucky Bastards... "We Won!"

Banks will hold Bitcoin and will deal with cryptocurrency. I've said that on my blog for number of times over the past two or three years. It was crystal clear these oligarchs won't loose the chance to profit from Bitcoin and we already have the spark leading to banks holding Bitcoin.

FDIC chair Jelena McWilliams told Reuters in an interview on October 26 that a team of U.S. bank regulators is working on a more precise set of rules for banks interested in engaging with Bitcoin and cryptocurrency. That would clarify how U.S. banks could hold BTC in custody to facilitate client trading, use it as collateral for loans, or even hold them on their balance sheets.
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While most of the national currency are falling, that being easily reflected in the weakening purchasing power of most of the nations currency, Bitcoin is increasing in value and at the same time is "spreading its tentacles". Being present on a company's balance sheet such as Tesla is nothing new to the press. A matter of fact Tesla is quite on profit with its investment in Bitcoin.

In the past year, though, Bitcoin has managed to become legal tender in El Salvador, have its first futures ETF approved, became a long term investment for a few pension funds from all over the world and discussed by politicians more and more often from the perspective of becoming a world reserve currency. Now, we have banks making it clear that they want their share of the pie.

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"I think that we need to allow banks in this space, while appropriately managing and mitigating risk. "If we don't bring this activity inside the banks, it is going to develop outside of the banks...The federal regulators won't be able to regulate it."
-FDIC chair Jelena McWilliams source

Meanwhile there are analysts still waiting for a proper bear market to follow once this thing peaks. I am no genius in crypto, if I were so I'd probably live somewhere in Maldives by now, but I find it hard to believe history will repeat in any way for Bitcoin... The past two cycles belong to an era that has nothing in common to what the no.1 cryptocurrency is becoming right now.

Bitcoin has gotten from a wild west asset to a pension funds long term investment in less than four years. It's talked by presidents and important politicians from all over the world and there's no turning back for this thing. Just imagine when banks in the US will be allowed to "hold BTC in custody to facilitate client trading, use it as collateral for loans, or even hold them on their balance sheets".

Just imagine when countries will use it to settle international affairs through it, as talked about by Putin a few days ago and when governments, other than the one of El Salvador will start mining it. Now just think for a second that there are people around us expecting Bitcoin to fall by 90% after it will peak, whether that peak will be $300,000, more or less...

I don't believe in bear markets anymore. I think its volatile nature will still be prevalent until a few years after the next halving, but the wild west boom and bust cycles are out of my equation. Mass adoption is here, whether we like it or not... BUT we asked for it, isn't it? Now we have almost all leagues of financial institutions in the arena. Let the games begin...

Thanks for attention,
Adrian

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