Most financial institutions have willingly ignored Bitcoin and similar currencies for years. In 2020, most of these banks are suddenly jumping on the bandwagon as if there is no tomorrow.
CME Group has been on the fence about Bitcoin for a while.
CME is Warming up to Bitcoin
Albeit the company provides Bitcoin futures contracts, that is nothing more than a business venture.
The actual belief in the viability of cryptocurrencies simply isn’t there as of yet.
Or so it would seem, until quite recently.
CME Chief Economist Bluford Putnam is currently smitten by Bitcoin and other cryptocurrencies.
He considers this type of asset to be worth further investigation”.
A bit of an ominous message, primarily because it comes from a financial powerhouse.
Fitting Bitcoin into a portfolio given its current volatility still remains a tough balancing act.
Even so, the prospect of handling the best performing global asset year over year cannot be ignored.
Even people working for CME have to acknowledge this is a different asset class altogether.
A lot of untapped potential remains, yet it may not be up to institutions like CME to unlock the full capabilities.
Even so, organizatons like these can help drive mass adoption of cryptocurrencies in the years to come.
An exciting future lies ahead for Bitcoin, that much is evident.