TL; DR
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We’re still in a bear market, but things feel relatively stable compared to last year. There are no crazy highs, no depressing lows…
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Amid this calm, major institutional players are quietly entering the crypto space.
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Now Deutsche Bank and fintech company ‘Taurus’ will store and protect an institution’s cryptocurrency (the same way they would their money).
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The moral of the story: The more trusted infrastructure there is → the more $ will be invested in crypto over time.
Full story
This feels weird…right?
It’s like we’re in limbo.
Sure, we’re still in a bear market, but things feel relatively stable compared to last year. There are no crazy highs, no depressing lows…
Just month after month, Bitcoin slowly hovered between $25,000 and $30,000, with the rest of the space following closely behind.
It turns out that, amid this calm, major institutional players are quietly tiptoeing into the crypto space.
You know how we keep harping on all these spot Bitcoin ETF registrations that allow BTC to be traded on the stock market and attract billions into the space?
Yeah, well, those funds are so attractive to large institutions because it means they don’t have to store the Bitcoin themselves (the fund does it for them).
Why the aversion to buying and storing Bitcoin directly? Because for companies of this size, there is no clear ‘how’ – and that means ‘RISK’.
Now Deutsche Bank and fintech company ‘Taurus’ are responding to this problem by creating an ‘enterprise-grade crypto asset custody product’.
Translation: they store and protect an institution’s cryptocurrency (the same way they would their money).
Okay, okay, “a bank account, but for crypto” doesn’t sound that exciting at first glance, but it’s an important part of the roadmap for “the price of crypto is going up.”
This is why:
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Following the fallout from high-profile companies like FTX, more and more people are looking for highly regulated players (like Deutsche Bank) to enter this space and act as ‘adults in the room’.
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The tokenized economy will continue to develop and add more and more traditional assets to the chain (e.g. buying/selling real estate via the blockchain – which is actually already a thing).
The point is, the larger the overall investment, the more security these investors will want in saving it – and long-standing banks have some brand pedigree with that sort of thing.
The moral of the story:
The more trusted infrastructure there is → the more $ will be invested in crypto over time.
We’d love to see it!