Bank of America Approves Bitcoin Futures

Wong Gendheng

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Quote from: RondoAnyar on July 17, 2021, 10:46:15 AM

Banks are starting to accept bitcoin especially in the United States. this seems to be interesting and slowly bitcoin can be accepted by all companies in the world. I hope all banks can slowly accept crypto in their companies

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America certainly has a strong influence globally, if many large American banks and companies accept bitcoin, it is certain that there will be no world companies that reject bitcoin, a bull run will occur soon.

Anonylz

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Quote from: ropyu1978 on July 22, 2021, 04:14:13 AM

Quote from: ARTURVH on July 18, 2021, 08:49:25 PM

It is difficult to say that this kind of news is positive. Especially now in a bear market. It should be noted that the banking system and the confidential money market system are two completely different models. Even the opposition between centralization and decentralization.

maybe this is a good sign for bitcoin, but this may be inaccurate news, because we know the US government strictly prohibits bitcoin mining, and still prohibits their people from adopting bitcoin, but if this news is true and can be trusted most likely, this will be good news for bitcoin..

Adoption will not come at once, it has to go through process to get to that stage, the use government nay have strict rules regarding btc mining and acceptance but for some reason most big organizations in USA are able to associate with btc even in the face of this strict rules by the government, they say every problem has a solution, and somehow btc is penetrating deep into the system so who knows at some point the government will have no choice than to soften all this strict rules and make them more flexible.

Shenzou

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Quote from: fuguebtc on July 17, 2021, 09:52:40 AM

The second largest bank in the United States, has approved bitcoin futures trading for some clients, using CME contracts. Meanwhile, in 2018, Bank of America banned financial advisers from trading Bitcoin and related contracts.
In my opinion, I have the belief that in the future many banks will accept similar transactions of this valuable cryptocurrency.
https://www.nasdaq.com/articles/bank-of-america-approves-bitcoin-futures-trading-for-some-clients%3A-sources-2021-07-16

This is some good news regarding the mass adoption of bitcoin and crypto in general, after what we have seen with china banning bitcoin and crypto mining the price took a hit, but with this news we are seeing the price recovering, and i am sure that if other government see that US accepting bitcoin they will also start accepting it as well, and we will see a mass adaptation of bitcoin.

rodel caling

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Wow good to hear that.they starting to like bitcoin fir their transaction.I am so happy to heard that.yeah hopefully someday all kinds of bank and digital currencies will accept in the near future for all over the world.so life will most be easily in term of payment transaction where ever we are.

Fecofelix

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Bank of America is the second largest bank in U.S, has approved the trading of bitcoin futures for some clients.A number of investment banks are reportedly allowing clients to invest in critical products.

bosede1

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It is good reading threads like this because it shows that the future that awaits bitcoin is a good one that will be accepted by many classes and nations all in the long run. For investors, this is a kind of assurance

dupee419

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In the future, more banks would likely agree about Bitcoin and the future, as Bitcoin grows, more banks will adapt to the digital life, therefore agreeing that cryptocurrency will live for several years, and so does the name of their banks of course.

sheryllmcnulty

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Yep, that’s correct @Btcvilla. This news will have a good impact on bitcoin trading in other countries too.

Mistafreeze

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This is a very good idea and I believe that more are still yet to come, with so many persons adopting the use of Bitcoin in the nearest future. The banks and big firms are now seeing the importance and the need to accept Bitcoin to retain their customers cause they can always look for ways to satisfy their curiosity.

The government has to ensure the use of Bitcoin before things get out of hand. Even though there is temporary ban, people are still going to look for other means to carry on there Bitcoin activities. It would be shocking to firms and big companies that are now again the continuous expansion of Bitcoin, later seeing the huge market cap and price significantly going high. The Bitcoin market is here to stay and nobody or country can withstand it

mbe48

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This is good news but it is difficult to say that crypto assets will become an inevitable part of the downstream development of the digital economy, making it possible in the future to facilitate transactions. If the transaction speed is not in doubt, but if the Bitcoin transaction at the Bank the transaction fee will be cheaper?

Xinarae*

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If the bank of america approves bitcoin futures crypto will become more popular in the world. It is positive for crypto and other countries will support crypto by following america the US banking giant bank of america has approved bitcoin trading futures for some clients but it is not yet fully regulated the change for regulators to view the asset is that cryptocurrency has recently received. The use of crypto will bring many benefits to the american people.

Zilon

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It's still not opened to all citizens of America for now it's reserved for some clients and this is simply because of the large margin required to trade this features. Wouldn't we call this a selfish interest from Bank of America. If the margin should attract them then they should make it open for all American citizen to partake other than reserving it for some clients

clint25n

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what is done by the company in America is.very good and will have a very positive.impact on the value of bitcoin for now which will probably make the price of bitcoin relatively.high for the future, with someone.adopting bitcoin it is.very good if.this will also be done by several large companies.in the world to want to adopt.it and we will also feel optimistic about the current crypto world, we can.only hope that this will actually happen in the future

Btcvilla

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what the bank does is very useful and will have an impact on changes in the value of bitcoin which will provide a stable price for a value in the global stock market price, with the adoption it will also really help bitcoin develop widely and will be adopted by several other countries in the world to make bitcoin the legal currency in the world for legal buying and selling transactions in various countries

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Quote from: fuguebtc on July 17, 2021, 09:52:40 AM

The second largest bank in the United States, has approved bitcoin futures trading for some clients, using CME contracts. Meanwhile, in 2018, Bank of America banned financial advisers from trading Bitcoin and related contracts.
In my opinion, I have the belief that in the future many banks will accept similar transactions of this valuable cryptocurrency.
https://www.nasdaq.com/articles/bank-of-america-approves-bitcoin-futures-trading-for-some-clients%3A-sources-2021-07-16

It was only a matter of time for all those that initially thought they do not need Bitcoin to realise that, involving in Bitcoin in one way or another is inevitable. Bitcoin has grown to that stage where it will be useless for those that claim they are big financial institutions/individuals not to get involved. Many more billionaires are coming out this days to announce their holdings of Bitcoin and more wants to be involved hence this Banks will have to provide this means for their high networth customers.
I believe we will continue to see other banks get into Bitcoin because they know it can no longer be ignored and because their customers wants to.

19Nov16

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Quote from: fuguebtc on July 17, 2021, 09:52:40 AM

The second largest bank in the United States, has approved bitcoin futures trading for some clients, using CME contracts. Meanwhile, in 2018, Bank of America banned financial advisers from trading Bitcoin and related contracts.
In my opinion, I have the belief that in the future many banks will accept similar transactions of this valuable cryptocurrency.
https://www.nasdaq.com/articles/bank-of-america-approves-bitcoin-futures-trading-for-some-clients%3A-sources-2021-07-16

Happy to hear this news, more and more stock and futures exchanges accept bitcoin, with this fact it makes me sure to buy and hold more to change my life in the future to make parents and buy a house.

mckinleeanael07

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This is great news for myself and also to the crypto community, why do we discuss and give thoughts, because we all want BTC to grow stronger. Moreover, not only we know about it but everyone in the world knows about BTC.

randegibran

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what the United States.is doing has.a very positive.value at this time, especially those who do this are a superpower that has.a large enough influence in.the world, with this, hopefully.other countries.or other.companies can.follow suit.in a world that will actually have a very positive.impact on the value of crypto currencies.which have recently.experienced a significant.price.decline penurunan

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Quote from: Core.i7 on July 21, 2021, 10:15:58 AM

Quote from: Kong Hey Pakboy on July 18, 2021, 05:56:02 AM

This is a big news, a banking institution accepting bitcoin is one big move for the market and I am anticipating a really big influx to the market in the next few months because it's banks that are involved in this news and they can be pretty influential.

These days news do not have much positive impact on bitcoin as price of bitcoin keeps on supressing. However today we have seen some nice movement in the market because of the Elon Musk debate today.

Waiting will allow by other bank to accept bitcoin as legal digital currency and investment or not, we hope not happen like Elon Musk first time accept bitcoin as payment his company and later reject and banned using bitcoin. I think this phenomena right now where some bigger project try to accept bitcoin and price wake up drastically, few months later they try to banned bitcoin and give bad for bitcoin because price dump.

ropyu1978

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Quote from: ARTURVH on July 18, 2021, 08:49:25 PM

It is difficult to say that this kind of news is positive. Especially now in a bear market. It should be noted that the banking system and the confidential money market system are two completely different models. Even the opposition between centralization and decentralization.

maybe this is a good sign for bitcoin, but this may be inaccurate news, because we know the US government strictly prohibits bitcoin mining, and still prohibits their people from adopting bitcoin, but if this news is true and can be trusted most likely, this will be good news for bitcoin..

Core.i7

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Quote from: Kong Hey Pakboy on July 18, 2021, 05:56:02 AM

This is a big news, a banking institution accepting bitcoin is one big move for the market and I am anticipating a really big influx to the market in the next few months because it's banks that are involved in this news and they can be pretty influential.

These days news do not have much positive impact on bitcoin as price of bitcoin keeps on supressing. However today we have seen some nice movement in the market because of the Elon Musk debate today.

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Quote from: Questat on July 18, 2021, 06:19:32 PM

I hope the domino effect will be able to start right after this. I mean I was looking for a positive response from the other countries after hearing this news.

And aside from that, I was expecting that it give some impact on the market price and helps to move back high again. But of course, it can be impossible without support from the community. The presence of more investors and traders could help it out and help the market to regain its previous momentum (uptrend).

A lot of people feel that ANY news about Bitcoin should be bullish. The fact is that Bitcoin has gone beyond that stage now where it was a niche technology for a bunch of internet geeks and any mention of institutions would lead to a domino effect. That domino effect has been in motion since 2017 when the CME launched the first Bitcoin futures. Since then we have already come a long way. BoA allowing its customers access to Futures is just a policy change in their own practices which cannot have any effect on the actual Bitcoin market.

Being in this stage also means that the price increases for bitcoin will no longer be as spectacular as before. Retail investor should especially be wary of crypto influencers talking about a 100K or a 200K bitcoin. IMO, This is not a possibility in the near future. The institutional adoption has come to a halt with Elon Musk's antics and we have to pretty much wait for the industry to learn its lessons from what happens to Microstrategy.

Till then, it may well be a lot of sideways action for the foreseeable future and settling to lower lows.

ARTURVH

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It is difficult to say that this kind of news is positive. Especially now in a bear market. It should be noted that the banking system and the confidential money market system are two completely different models. Even the opposition between centralization and decentralization.

Pasa32

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Its positive sign for Btc . after china banning need some top class bank to be positive for btc. Otherwise Btc price may fluctuate toward downside. Some big news needed so much for stopping selling pressure.

Questat

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Quote from: seramania on July 18, 2021, 06:09:30 PM

this is very good for banking in the world, because i believe if bank of america can successfully implement bitcoin maybe many banks in various countries can apply it in the future and i believe that

I hope the domino effect will be able to start right after this. I mean I was looking for a positive response from the other countries after hearing this news.

And aside from that, I was expecting that it give some impact on the market price and helps to move back high again. But of course, it can be impossible without support from the community. The presence of more investors and traders could help it out and help the market to regain its previous momentum (uptrend).

seramania

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this is very good for banking in the world, because i believe if bank of america can successfully implement bitcoin maybe many banks in various countries can apply it in the future and i believe that

temple

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Quote from: Gozie51 on July 18, 2021, 05:51:46 AM

Quote from: Stalker22 on July 18, 2021, 02:20:34 AM

The Bank of America is not selling futures directly to all customers in the US, but some clients of the bank can choose to do so, in order to position themselves for potential volatility in the market. This gives bitcoin some respectability and most likely will force other companies to join the race. With a higher number of options, there will be greater volatility, which is good for those who view bitcoin as the perfect investment alternative.

You right and truly it is a positive news for cryptocurrency and bitcoin. This is really a moment that reversal from bear to bull will resume. Won't be surprised that price hit $40k again for change of event. America state is a liberal one both in democracy which gives choices to people and that has taken the dimension of financial revolution in the system. Shortly, bigger and large financial institutions will officially adopt the use of bitcoin.

Not sure if that is the only reason. There are a lot of rich individuals in the US and if they approach the big banks because they want exposure to cryptocurrencies, it is very possible that a lot of lobbyism is involved when it comes to the approval of Bitcoin Futures. They also have their own agenda and the banking industry / financial industry is extremely powerful.

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Quote from: fuguebtc on July 17, 2021, 09:52:40 AM

The second largest bank in the United States, has approved bitcoin futures trading for some clients, using CME contracts. Meanwhile, in 2018, Bank of America banned financial advisers from trading Bitcoin and related contracts.
In my opinion, I have the belief that in the future many banks will accept similar transactions of this valuable cryptocurrency.
https://www.nasdaq.com/articles/bank-of-america-approves-bitcoin-futures-trading-for-some-clients%3A-sources-2021-07-16

When it comes to predictions, we cannot deny the fact that it is very hard to make one. Nevertheless, when it comes to crypto, we can somehow be sure of one thing, that progress of it will keep on going each day or each year so we can expect the best if ever things goes well for it yet we can also expect the worse as different governments in the world starts going against it. Hearing such news like having the second largest bank in the US opening up the possibilities of regulating bitcoin could be a huge step forward for bitcoin so that it would become more well known and influential.

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Quote from: fuguebtc on July 17, 2021, 09:52:40 AM

The second largest bank in the United States, has approved bitcoin futures trading for some clients, using CME contracts. Meanwhile, in 2018, Bank of America banned financial advisers from trading Bitcoin and related contracts.
~sinp~

I really want to laugh. This incident has become a tradition. Some big companies initially rejected crypto but eventually they were able to accept it. It's like a cycle we can predict in advance don't be surprised. We know that the development of the crypto market is very fast, many people in the world accept it and use it, even though we know that some countries have not legalized it. But from this case it seems they are aware and accept crypto currency. Henceforth I think this is a process we are just waiting for time.

ziennakarishma21

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I think this will be very good news for investors like us, because America is one of the big countries and if the big countries follow the US, the small countries will follow. will follow the trend of major countries, in the future BTC will sooner or later become a popular payment coin worldwide.

oHnK

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I am a little surprised why the government that makes regulations is so fickle in making decisions. This bank will accept, tomorrow there will be a bank that prohibits it. What do they actually see in crypto? I consider that this is just a conflict of interest even though BTC is very worthy of being supported, especially regarding providing benefits to everyone. There is no harm in this implementation other than the threat of the existence of the central bank.

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Quote from: avikz on July 18, 2021, 09:05:17 AM

What a turnaround! It only took 3 years for BOA to realize that they are loosing on a big opportunity. But I don't think we have anything to cheer about this news. BOA will probably offer this service to some niche clients and also they will be using CME future contracts. That effectively means, no liquidity will flow into bitcoin market, no additional demand will be added, no actual bitcoin transactions will take place! So nothing to cheer about it! It's just a banking thing to make money!

What can be the possible reason behind this change of stance? From outright banning to getting into selling futures contracts. If it is the recognition of an opportunity to earn fees, then why ban in the first place?

From there earlier statements, it looked more like a principled opposition to Bitcoin. As in "these are highly speculative assets backed by nothing". Like the CME Futures they'll now sell are backed by real Bitcoin. There ARE so many contradictions in how the big banks want to treat cryptocurrencies in general and Bitcoin in particular. They use the terminology "Private cryptocurrencies" which is simply not applicable to Bitcoin but will accurately define a bank issued CBDC.

I agree that its mostly speculation for traders but you cannot say that they are completely useless for the Bitcoin landscape. The "select clients" most probably are miners or even exchanges that will try to hedge their risk in running Bitcoin infrastructure.

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Quote from: fuguebtc on July 17, 2021, 09:52:40 AM

The second largest bank in the United States, has approved bitcoin futures trading for some clients, using CME contracts. Meanwhile, in 2018, Bank of America banned financial advisers from trading Bitcoin and related contracts.
In my opinion, I have the belief that in the future many banks will accept similar transactions of this valuable cryptocurrency.
https://www.nasdaq.com/articles/bank-of-america-approves-bitcoin-futures-trading-for-some-clients%3A-sources-2021-07-16

What a turnaround! It only took 3 years for BOA to realize that they are loosing on a big opportunity. But I don't think we have anything to cheer about this news. BOA will probably offer this service to some niche clients and also they will be using CME future contracts. That effectively means, no liquidity will flow into bitcoin market, no additional demand will be added, no actual bitcoin transactions will take place! So nothing to cheer about it! It's just a banking thing to make money!

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Quote from: fuguebtc on July 17, 2021, 09:52:40 AM

The second largest bank in the United States, has approved bitcoin futures trading for some clients, using CME contracts. Meanwhile, in 2018, Bank of America banned financial advisers from trading Bitcoin and related contracts.
In my opinion, I have the belief that in the future many banks will accept similar transactions of this valuable cryptocurrency.
https://www.nasdaq.com/articles/bank-of-america-approves-bitcoin-futures-trading-for-some-clients%3A-sources-2021-07-16

I see the possibility is very high. because Currently, there are many banks that provide similar services. and it will continue to grow in the future. if they don't do it will slowly be abandoned. that's why banks are starting to open up to crypto especially bitcoin.

rozak

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a controversy I guess. when any country banned crypto and its development. otherwise, will there be a country that legalizes crypto and its development?
I think the US has an important step to change the direction of world development. as more and more official government agencies take advantage of transactions with blockchain networks, it becomes a positive outlook for the future of crypto.

BrewMaster

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There is trouble abrewing

there will be a lot more news like this in the coming months because as bitcoin is getting ready to go to the moon a lot of people would want to take a piece of this pie and make money. what better way of making money than to only be the broker who doesn't risk anything while getting paid for their useless service.

i also expect to see a lot of new bitcoin IOUs similar to what PayPal did this year where some company lets people buy bitcoin through them but doesn't let them withdraw anything and may not even have bitcoin to sell them.

dudusix9

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Big news! I guess every banks wants the piece of it. Global adoptions coming in next. This is really the time to accumulate, not only in bitcoin but also with alts like ada and matic. Same for defi games like axs, $anrx and tlm which has really good potential in gaming space.

dansus021

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There always be pro and cons when it comes to bank when joined crypto industry

Quote from: Ausgewielt on July 18, 2021, 07:04:19 AM

Cryptocurrency is already used by many people in the world. Bank as a company should satisfy it's customers or their customers will leave. I think this will also happen to countries which ban Bitcoin now, I believe that that regulations is not permanent. Today's there is NFT trend which means the use of cryptocurrency will be wider because now cryptocurrency also reach graphic designers. I think if bank don't accept bitcoin and other cryptocurrencies then there are many transactions that will be done without bank which means that it will decrease their potential income.

But yeah i do aggree with this guy

Especially when you earn from crypto and paid tax and using the bank there's always benefits both government and bank side its actually win win solution and i hope institutional who's banning bitcoin now lift up their banning

Ausgewielt

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Cryptocurrency is already used by many people in the world. Bank as a company should satisfy it's customers or their customers will leave. I think this will also happen to countries which ban Bitcoin now, I believe that that regulations is not permanent. Today's there is NFT trend which means the use of cryptocurrency will be wider because now cryptocurrency also reach graphic designers. I think if bank don't accept bitcoin and other cryptocurrencies then there are many transactions that will be done without bank which means that it will decrease their potential income.

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This is a big news, a banking institution accepting bitcoin is one big move for the market and I am anticipating a really big influx to the market in the next few months because it's banks that are involved in this news and they can be pretty influential.

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Quote from: Stalker22 on July 18, 2021, 02:20:34 AM

The Bank of America is not selling futures directly to all customers in the US, but some clients of the bank can choose to do so, in order to position themselves for potential volatility in the market. This gives bitcoin some respectability and most likely will force other companies to join the race. With a higher number of options, there will be greater volatility, which is good for those who view bitcoin as the perfect investment alternative.

You right and truly it is a positive news for cryptocurrency and bitcoin. This is really a moment that reversal from bear to bull will resume. Won't be surprised that price hit $40k again for change of event. America state is a liberal one both in democracy which gives choices to people and that has taken the dimension of financial revolution in the system. Shortly, bigger and large financial institutions will officially adopt the use of bitcoin.

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Quote from: pooya87 on July 17, 2021, 11:35:48 PM

For example these days a lot of them are betting against the price and also since price isn't going down they are trying to dump it. This is only going to get worse.

The only thing I enjoy these days is the fact that they can't bring down the price, no matter how hard they try. I have already written somewhere that their prospects are getting worse every day, because at some point the trend will turn in favor of the bulls.

I personally don’t consider this kind of news generally good or bad, because although futures imply a lot of speculation by investors, I guess a little good publicity won’t hurt given that the bank (BOA) was extremely hostile to any form of the cryptocurrency business. Unfortunately, I agree that the situation in that part will get worse - because there will be more and more banks that will want their share of crypto cakes - and we all know that banks just want to make a profit, without choosing how to achieve it.

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Thats a great news for bitcoin community in us. Becasue its becomes more simple to use bitcoin or trading bitcoin. Though they are now give permission to some of users this furute trading option i think its because of testing purpose they give only some people. So that they know all the progress, process, problem and find a best solution then they might gives all the users from america give a chance to use bitcoin futures trading. Well its another news for world that we must enter bitcoin asap otherwise bitcoin price will be untouchable so for a normal users buy a whole 1 bitcoin will be the toughest thing in this world. Thank you.

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The Bank of America is not selling futures directly to all customers in the US, but some clients of the bank can choose to do so, in order to position themselves for potential volatility in the market. This gives bitcoin some respectability and most likely will force other companies to join the race. With a higher number of options, there will be greater volatility, which is good for those who view bitcoin as the perfect investment alternative.

joniboini

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Quote from: Woodie on July 17, 2021, 10:32:49 AM

But am hoping this can be seen in bitcoins price reacting to the upwards.

Positive news in the middle of fud and bearish sentiment usually doesn't affect the market that much. Just take a look at the past price action. On the opposite, news like "Goldman Sachs start trading bitcoin" and the likes are usually the starting point of the bear market. It was proven many times that those big players always publish this kind of title/"news" before they dump their bags to retail traders.

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Quote from: fuguebtc on July 17, 2021, 09:52:40 AM

The second largest bank in the United States, has approved bitcoin futures trading for some clients, using CME contracts.

This is a terrible news. For starters you can't trade bitcoin this way but only to buy futures contracts that may not even be backed by real bitcoins at some point in the future. Then it also could be introducing a lot of additional volatility and market manipulation to bitcoin price as those who buy these contracts are essentially betting on the future price. For example these days a lot of them are betting against the price and also since price isn't going down they are trying to dump it. This is only going to get worse.

Fundamentals Of

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That's the second largest bank in the US. That speaks a lot about Bitcoin playing a bigger role in mainstream finance. It may not have immediate impact but this will still affect Bitcoin in the near future. If the Bank of America is already riding the Bitcoin wave, other banks will most likely imitate. It is about time the government seriously ponder on Bitcoin as a legally accepted alternative currency.

Rajamuda

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Quote from: fuguebtc on July 17, 2021, 09:52:40 AM

In my opinion, I have the belief that in the future many banks will accept similar transactions of this valuable cryptocurrency.

Well but all of that is still largely in the acceptance, consideration, assessment stage of what the government/banks continue to see. Hopefully, bitcoin is getting more popular and more valuable to have a positive effect from all its characteristics and benefits.
The more visible the advantages.. the easier it will be to accept, and the more visible the shortcomings.. the more difficult it will be to accepted.

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Quote from: Darker45 on July 17, 2021, 09:03:25 PM

Others may not find this very interesting. Bitcoin futures is not that attractive to me either. Also, this is only offered to selected clients. But more than all these particulars, this to me is a significant step toward the process of flipping. Banks are coming. They're already converted. Bitcoinization is happening. They used to brush off the Bitcoin idea, and then they began to criticize and try to destroy it, and then they eventually joined the community. They may be after the money. But the mere fact that they are offering products on Bitcoin is acknowledgement enough that Bitcoin is indeed inevitable.

Right, selected clients, meaning it's only offered for the rich and has deep pockets to invest in crypto. Although this could sound good news for us, but it doesn't have the same impact as when we heard this so called bitcoin futures.

And as far as I know, they are not going to hold the bitcoin itself. So still 50/50 effect, but the real winners here are of course Bank of America (BoA) who are going to get lots of money from their whales client.

Darker45

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Others may not find this very interesting. Bitcoin futures is not that attractive to me either. Also, this is only offered to selected clients. But more than all these particulars, this to me is a significant step toward the process of flipping. Banks are coming. They're already converted. Bitcoinization is happening. They used to brush off the Bitcoin idea, and then they began to criticize and try to destroy it, and then they eventually joined the community. They may be after the money. But the mere fact that they are offering products on Bitcoin is acknowledgement enough that Bitcoin is indeed inevitable.

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Quote from: fuguebtc on July 17, 2021, 09:52:40 AM

The second largest bank in the United States, has approved bitcoin futures trading for some clients, using CME contracts. Meanwhile, in 2018, Bank of America banned financial advisers from trading Bitcoin and related contracts.
In my opinion, I have the belief that in the future many banks will accept similar transactions of this valuable cryptocurrency.
https://www.nasdaq.com/articles/bank-of-america-approves-bitcoin-futures-trading-for-some-clients%3A-sources-2021-07-16

That's a good move from Bank of America. In the midst of all the fud going round, its nice to see bitcoin in the news for good reasons. I'm wondering though, why now? Maybe most of their clients are already moving to crypto and this is just a plan they made in order to make their clients. Regardless, it's still a solid move from them and I hope that other banks and financial institutions follow suit on this even though its not CME futures but it would be nice to see more of these institutions open their doors to bitcoin and crypto related services. Nice nice.

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Quote from: dkbit98 on July 17, 2021, 12:15:10 PM

This will only be possible for their special selected clients and it don't apply for general public, but it is still a positive change on Bitcoin compared with their decision made few years ago.

Agreed. But I am assuming at the beginning the bank allowing selected clients to observe the situation and interest. Then they would open for all over clients for Futures trading. I always believe, "something is better than nothing". At least somehow the bank adopting Bitcoin by allowing their clients for Bitcoin Future trading. Although this news doesn't affect Bitcoin price, it's potential news for the Bitcoin community who like Bitcoin future trade.

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banks in the United States are starting to accept bitcoin. This is very good news for the crypto world. With the acceptance by banks of this large country, other companies will also adopt bitcoin as a legal currency. this will also make price stability which has recently begun to decline, we hope that this will restore the market price of bitcoin

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Quote from: mindrust on July 17, 2021, 12:19:09 PM

Quote from: fuguebtc on July 17, 2021, 09:52:40 AM

The second largest bank in the United States, has approved bitcoin futures trading for some clients, using CME contracts. Meanwhile, in 2018, Bank of America banned financial advisers from trading Bitcoin and related contracts.
In my opinion, I have the belief that in the future many banks will accept similar transactions of this valuable cryptocurrency.
https://www.nasdaq.com/articles/bank-of-america-approves-bitcoin-futures-trading-for-some-clients%3A-sources-2021-07-16

It is only futures though. Who cares? They don't touch bitcoin itself. They only want to collect them fees you will generate from trading. They probably think like JPM, if people want to trade this thing, why can't we profit from it? They didn't want to years ago but they see now it was a dumb decision.

They'll want to make money on those financial products they've always offered to their clients and that doesn't surprise me at all. They aren't gonna touch real bitcoins...yet. No big deal for the moment, let the banksters of wall street play with the fake tools while we keep on accumulating the real deal.

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Quote from: fuguebtc on July 17, 2021, 09:52:40 AM

The second largest bank in the United States, has approved bitcoin futures trading for some clients, using CME contracts. Meanwhile, in 2018, Bank of America banned financial advisers from trading Bitcoin and related contracts.
In my opinion, I have the belief that in the future many banks will accept similar transactions of this valuable cryptocurrency.
https://www.nasdaq.com/articles/bank-of-america-approves-bitcoin-futures-trading-for-some-clients%3A-sources-2021-07-16

It is only futures though. Who cares? They don't touch bitcoin itself. They only want to collect them fees you will generate from trading. They probably think like JPM, if people want to trade this thing, why can't we profit from it? They didn't want to years ago but they see now it was a dumb decision.

dkbit98

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This will only be possible for their special selected clients and it don't apply for general public, but it is still a positive change on Bitcoin compared with their decision made few years ago.
However, I am not a big fan of futures trading for bitcoin and it looks like this news didn't affect market at all.

clint25n

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This is very good for the state of bitcoin which is starting to be accepted by several companies in the United States, with this acceptance it means that bitcoin has a pretty good chance for its development in the future, and it will also be very easy for bitcoin to be adopted by some other companies with policies that have been taken by several companies in the United States

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Banks are starting to accept bitcoin especially in the United States. this seems to be interesting and slowly bitcoin can be accepted by all companies in the world. I hope all banks can slowly accept crypto in their companies

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Quote from: ropyu1978 on July 17, 2021, 10:03:06 AM

this is very interesting news, after china banned bitcoin mining, and banned its citizens from playing crypto money, but instead good news came from the bank of america which accepted bitcoin, actually bitcoin will never be lost, we can see one lost one grows a thousand, china goes left crypto, but america accepted it, maybe in the future other banks will follow the steps of bank of america, we'll just have to wait for the future..

Very true, this is some great news in the midst of events that contributed to the tanking of price

and now after a long time we have some bullish news we can celebrate about ,we needed it tbh!

But am hoping this can be seen in bitcoins price reacting to the upwards.

ropyu1978

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this is very interesting news, after china banned bitcoin mining, and banned its citizens from playing crypto money, but instead good news came from the bank of america which accepted bitcoin, actually bitcoin will never be lost, we can see one lost one grows a thousand, china goes left crypto, but america accepted it, maybe in the future other banks will follow the steps of bank of america, we'll just have to wait for the future..

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The second largest bank in the United States, has approved bitcoin futures trading for some clients, using CME contracts. Meanwhile, in 2018, Bank of America banned financial advisers from trading Bitcoin and related contracts.
In my opinion, I have the belief that in the future many banks will accept similar transactions of this valuable cryptocurrency.
https://www.nasdaq.com/articles/bank-of-america-approves-bitcoin-futures-trading-for-some-clients%3A-sources-2021-07-16

Topic: Bank of America Approves Bitcoin Futures (Read 535 times)