Australia About To Get Big On Crypto

It looks like Australia's biggest bank, CBA, is about to offer their customers and app users to buy, sell and hold crypto using their banking app. https://www.nasdaq.com/articles/australias-largest-bank-to-integrate-bitcoin-services-in-app-2021-11-02

CBA has 6.5 million customers so that's about a quarter of Australians covered. What's most important and there's no clarity on that at the moment is whether their customers will be allowed to withdraw their Bitcoins to a wallet of their own.

If customers aren't allowed to withdraw their Bitcoins, then while it would still probably be a positive development for price, whether these new customers will delve deeper into crypto and check out alts is doubtful. After all, they aren't actually owning the bitcoin but an IOU or CFD on the price of the bitcoin.

Anyway, this is how it starts and just like with RobinHood, they will probably offer the alts next. Then once enough users realize that they don't actually own the underlying assets and make enough noise about it, they will begin to offer to hold the actual underlying asset.

Progress happens over time and then all at once.