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December 8, 5: Last Updated December 11, Cryptocurrency fever was already rampant when Evolve Funds Group Inc. Since then, investor frenzy has reached a fever pitch. Over the past two and a half months, bitcoin has more than quadrupled in price. Even digital cats — yes, digital cats — are being bought and sold for six-figure sums on the blockchain of Ethereum, a rival cryptocurrency platform.
As a result, the amount of capital at risk if the cryptocurrency bubble bursts is probably going to grow exponentially. He said having a regulated futures market on reputable mainstream exchanges is an important first step before offering the fund, because it eliminates the need for actual bitcoin to change hands. Currently, many institutional investors are unable to buy cryptocurrencies for a variety of regulatory and practical reasons.
But futures contracts and ETFs will make it possible for them to place bets on the price of bitcoin going up or down using familiar exchanges and financial tools. Big-name investors might be anxiously awaiting the opportunity to trade bitcoin futures, but the banks, which have to guarantee those trades, are not so eager.
Commodity Futures Trading Commission. The bitcoin futures markets that are about to launch are all cash-settled, which means a trader who buys a contract to purchase bitcoin at a certain price in the future and holds it to expiration will receive or pay the gain or loss in regular central-bank-issued dollars.
He said the big institutional money moving into bitcoin is likely to further increase the fee that miners charge per transaction — making it even less financially viable to use bitcoin as a means of buying a cup of coffee — but there are hundreds of other cryptocurrencies that may be better suited for that purpose.
But other ones are emerging, other ones will still find gaps. In a video of his remarks posted to YouTube, Antonopoulos said the futures market will perform a useful function for the Bitcoin ecosystem, allowing the miners who secure transactions to hedge against price swings by taking short positions.
Bitcoin's violent price swings this week have made the new market look all the more dangerous. Filed under FP Tech Desk. From hoodies to suits: Canada is offering free land and tax incentives to create more affordably priced options in Vancouver and Toronto. The central bank qualifying rate is separate from the actual mortgage rates offered by banks, but is used to assess homebuyers who are seeking loans.
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