Good news Citigroup Reportedly Working to Start Trading Bitcoin Futures.

yazher

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Quote from: LFC_Bitcoin on August 26, 2021, 08:23:31 AM

I don’t really like non-physical bitcoin backed trading but it’s at least something positive. Institutions are really beginning to embrace bitcoin positively after years of ignoring it or being negative. It’s not much but it’s another little rung on our ladder to the moon.

This is some better progress than before and I'm pretty sure this is just the start of this new future. Some years later we can finally say that bitcoins will be here forever. If this will become the reason for the price of bitcoins to continue rising, then this is not a bad thing at all rather this is just something we need right now and when this thing becomes popular then there is only one thing I can say about it, around the world implementation which will make the bitcoins regular currency of the world next to dollars.

concept2

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What a great news to the community although I do not really understand how stock and futures in US works haha. But at least it is a good news to us as well as to any bitcoin enthusiasts. Seeing various institutional investors adding bitcoin to their portfolio makes me happier than ever. If we keep this momentum, bitcoin will once again pass $60000 and might hit a new ATH. The downtrend has already been reversed

Arvin01

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It may promote the growth of Bitcoin price, which is a better thing. Will attract some people to learn about Bitcoin.
Promote the popularity of Bitcoin. When more and more people learn about Bitcoin, many companies will follow suit. Just like El Salvador was the first to set it as legal tender.

cabron

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Stock Exchange adopting BTC futures that's good. Even better if the BTC there can be withdrawn going to a private wallet.

So much news coming from financial media news everywhere related to Bitcoin because of the infrastructure bill that has been debated still. There was even news recently that Bitcoin ETF futures will be much easier to be approved to which there had been many who had filed after the news.

ethereumhunter

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It will become a bullish trend when it is accepted because that means, many companies want to use bitcoin for trading and they will see that bitcoin can bring them more money with the fluctuating of the price. But what I am more concerned about is how long that can be approved by them since that will need long before they are ready to accept. Maybe before they accept that, they will reject and need more time to check everything. But no matter what, bitcoin will rise at the right time and that is for sure.

TravelMug

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Quote from: LFC_Bitcoin on August 26, 2021, 08:23:31 AM

I don’t really like non-physical bitcoin backed trading but it’s at least something positive. Institutions are really beginning to embrace bitcoin positively after years of ignoring it or being negative. It’s not much but it’s another little rung on our ladder to the moon.

Same here, if there's one thing that new investors, I mean big whales wanted to join the picture, they can just buy it and put it in their hardware wallet and then hold. That's one thing that we really didn't understand early in 2017, when all this bitcoin future contracts appeared in crypto sphere, CME and CBoE pushes the price to it's all time high back then.

Everyone was very happy, but after that, the market suddenly plunges hard for the next 2-3 years. Anyhow, lets see what will be the impact back then.

verita1

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Bravo! Bank of America, Goldman Sachs, Citigroup.
I am very happy about the news because good progress is coming for bitcoin because it will be introduced to more people in the world through banking.

I have mixed feelings, in my country Venezuela had Citigroup headquarters but later they were closed due to the blockade.
While these offices existed, I was struck by creating a bank account in this prestigious bank, opening an account invited me to improve myself but I stopped because I did not earn enough to save my money there.
Now I feel that I have surpassed myself and after seeing this news I think that I am living a paradox because I knew how to choose the best bank that is bitcoin.

https://www.coindesk.com/business/2021/08/24/citigroup-gearing-up-to-trade-cme-bitcoin-futures-sources/

Slow death

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Quote from: Twinscoin2017 on August 26, 2021, 07:12:55 AM

U.S. banking giant Citigroup (NYSE: C) is reportedly awaiting regulatory approval to start trading bitcoin futures contracts on the Chicago Mercantile Exchange (CME). The firm would join Goldman Sachs in offering bitcoin futures trading.

as some members commented and I will also comment on the same thing saying the following: this type of news that still lacks approval especially when it comes to approval by some US government entity we always have to be cautious until we see it being approved, We have already seen cases where they are rejected, unfortunately time has shown us this, perhaps for this reason that in recent times few rumors or news of this type manage to create price increases

Hydrogen

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The good news about this is it would allow american's access to leveraged bitcoin trading. Americans have always been banned from trading on bitmex and platforms offering leveraged trading. It would be nice not to feel like we're stuck in the stone age in the USA.

If this signals, things to come, perhaps we might get crypto ETFs in the future as well.

Maybe of the bigger american crypto traders are renouncing US citizenship and moving out of the country for the greater crypto options and freedom offered by other parts of the world. I would guess cutting back on capital flight and hemorrhaging citizens could be goals worth pursuing.

Ararbermas

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If that's true for sure there will be another great run in the market , indeed when it comes positive news especially if it's about bitcoin there's always an impact in the market afterwards. So don't be surprised what will gonna happen in the near future once they got the approval. Anyways thank you for sharing these kind of news mate, but can you provide a source or link if you don't mind. Wink

Tytanowy Janusz

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Quote from: Twinscoin2017 on August 26, 2021, 07:12:55 AM

U.S. banking giant Citigroup (NYSE: C) is reportedly awaiting regulatory approval to start trading bitcoin futures contracts on the Chicago Mercantile Exchange (CME). The firm would join Goldman Sachs in offering bitcoin futures trading.

Despite bigger liquidity, new futures trading options does not impact price since futures enables not only longing but also sorting coins you don't own. So net outcome is neutral. I would rather like to see that they help to build crypto-fiat getaways, build-in crypto wallets inside bank accoutns. So they will in give something to crypto instead of taking fees from trading only. Trading futures with zero net positive impact on crypto industry.

avikz

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Quote from: Twinscoin2017 on August 26, 2021, 07:12:55 AM

U.S. banking giant Citigroup (NYSE: C) is reportedly awaiting regulatory approval to start trading bitcoin futures contracts on the Chicago Mercantile Exchange (CME). The firm would join Goldman Sachs in offering bitcoin futures trading.

Nasdaq-listed business intelligence firm MicroStrategy (NASDAQ: MSTR) has purchased 3,907 BTC for a total of $177 million, according to a Tuesday filing with the U.S. Securities and Exchange Commission. this is a good news guys many more bullish news to come and bitcoinprice may double so let us hold for good.

Lol! Another CME based trading instrument and another attempt from a banking institution to make money out of thin air without actually handling the underlying asset. No impact at all, will be seen in the crypto market. Only some accredited investors will "THINK" they are investing in crypto and make money from it. And the banking institution will earn commissions for being a middleman while bitcoin actually wants to remove the middleman from the system.

These banking institutions are making the whole system in their favor while trying to secretly lobbying against bitcoin! So no cheer from my end!

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Quote from: Twinscoin2017 on August 26, 2021, 07:12:55 AM

U.S. banking giant Citigroup (NYSE: C) is reportedly awaiting regulatory approval to start trading bitcoin futures contracts on the Chicago Mercantile Exchange (CME). The firm would join Goldman Sachs in offering bitcoin futures trading.

This bit of news feels like it's only bullish once it actually gets approved. There have been a lot of etfs and other things we've waited for in the past and the initial bullishness of their approval is normally the only thing that matters.

If it does get approved it'll be a good on-ramp for a lot of funds though that want to invest in crypto or dabble with the idea of risking a few % on bitcoin (which they probably won't notice is gone anyway - since that institution is quite well known).

oHnK

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Citigroup's interest in crypto assets is one form of adjustment to the development of investment in the world. With an investment company background, they are already obliged to make adjustments. It's a bit strange that investment companies don't understand and are interested in crypto products. News of sufficient developments has become a factor supporting the strengthening of the market. If I had to choose, buy stocks or crypto. Yes, obviously choose crypto. Same with high risk, why not take the higher risk to get a higher return.

LFC_Bitcoin

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I don’t really like non-physical bitcoin backed trading but it’s at least something positive. Institutions are really beginning to embrace bitcoin positively after years of ignoring it or being negative. It’s not much but it’s another little rung on our ladder to the moon.

DapanasFruit

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In the past many months, institutional involvements and interest with Bitcoin has grown tremendously and this is one pillar in the bullishness of the asset and this can push Bitcoin to greater heights in 2021 and 2022. Bears are having a hard time making a good traction because with institutional involvement, retail investors are also showing some waking up. This potent combination can be working so positively for Bitcoin...no wonder there are now experts already looking beyond $100K within the next year or so.

Twinscoin2017

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U.S. banking giant Citigroup (NYSE: C) is reportedly awaiting regulatory approval to start trading bitcoin futures contracts on the Chicago Mercantile Exchange (CME). The firm would join Goldman Sachs in offering bitcoin futures trading.

Nasdaq-listed business intelligence firm MicroStrategy (NASDAQ: MSTR) has purchased 3,907 BTC for a total of $177 million, according to a Tuesday filing with the U.S. Securities and Exchange Commission. this is a good news guys many more bullish news to come and bitcoinprice may double so let us hold for good.

Topic: Good news Citigroup Reportedly Working to Start Trading Bitcoin Futures. (Read 203 times)