Heads of Wall Street Companies Seem Constructive on Prospects of Cryptocurrencies

We’ve already stated in our recent post about the mounting interests of Wall Street companies in cryptocurrency avenues.

Despite the prolonged struggle of cryptocurrency market about more than a year or so, quite a few number of heads, techno-savvies of the renowned companies in the world (including Apple, Facebook, JP Morgan, Tesla, and Twitter) and investment aspirants have been constructive on the prospects of cryptocurrency in recent times, indicating that Bitcoin and its peer groups in the crypto-space as a whole most likely to feature as the centre of attraction for innovation.

Elon Musk, the founder of Tesla and SpaceX, with an optimistic stand on cryptocurrency prospects, said that Bitcoin “is quite brilliant." "The traditional currency may fade away as the crypto is a far better way to transfer value than pieces of paper, that’s for sure, but it has its pros and cons,” he appended.

In yet another instance, the renowned social media company Facebook doesn’t seem to be abstaining itself from a buzzing world. They also seem to be testing their luck in blockchain or crypto-universe, the social media giant is intending to establish a blockchain technology team. As a result, they are seeking techno-savvies to develop blockchain ecosystem, as per Facebook’s official careers page so that Facebook could incept a stablecoin through which their clients can transfer money via WhatsApp.

Elsewhere, J.P. Morgan has made an official announcement about its digital currency initiative ‘JPM’s Coin’ and divulged about its digital coin payment.

Jack Dorsey, the chief of Twitter, recently clarified through a tweet about the launching of in-browser tipping using the lightning network that enables users to send BTC tips.

Furthermore, just to reiterate that the leading investment and trading platform eToro released the key inferences of a survey conducted on investors’ sentiment towards crypto-assets and traditional financial institutions. Wherein about 43% of Millennial online traders say they have less faith in the stock market than crypto-assets.

Currency Strength Index: FxWirePro's hourly BTC spot index is inching towards -184 levels which is bearish), while hourly USD spot index was at -2 (neutral) while articulating (at 07:09 GMT). 

For more details on the index, please refer below weblink: http://www.fxwirepro.com/currencyindex