Traditional savings institutions now provide services for buying and selling Bitcoin and other cryptocurrencies!
In the world of finance, the tide is turning towards cryptocurrency, with established institutions taking a keen interest in Bitcoin. This shift is not just a fleeting trend, but a significant move that suggests Bitcoin's long-term viability.
At the forefront of this change is Tristan, the editor-in-chief at Blocktrainer.de, who has been actively involved with Bitcoin since 2020. Tristan, with his journalistic experience outside the Bitcoin space and an interest in libertarian economic theory, provides insightful commentary on this evolving landscape.
One of the key players in this new era is Sparkassen, a German financial institution. Initially hesitant due to perceived risks, Sparkassen has since softened its stance and plans to allow customers to trade Bitcoin and cryptocurrencies through their DekaBank within the next year. This will make the crypto offering accessible via the Sparkasse app.
However, Sparkassen's stance remains critical, and they will not actively promote the offering due to the high speculative nature of cryptocurrencies. Customers will be informed about the risks, including the possibility of total loss.
Another major player, Deutsche Bank, has announced plans to officially start offering Bitcoin wallets and cryptocurrency custody services to its customers. This partnership with Swiss company Taurus marks an imminent integration of crypto services in a major German bank.
JPMorgan, too, is reportedly working on accepting Bitcoin Spot ETFs as collateral, a move that further solidifies Bitcoin's position in the financial world. The approval of Bitcoin Spot ETFs in the US and the establishment of a strategic Bitcoin reserve by the US government have made it harder for critics to ignore the market.
Even Jamie Dimon, CEO of JPMorgan, is reportedly supportive of his employees' right to buy Bitcoin.
The European MiCAR regulation has set a legal framework for this move, providing a solid foundation for the further adoption of Bitcoin by established financial institutions.
In late 2024, DZ Bank, the central bank for German cooperative banks, plans to offer services for trading and storing Bitcoin and other cryptocurrencies to private customers.
This article, written by Tristan, the editor-in-chief at Blocktrainer.de, explores the further adoption of Bitcoin by established financial institutions, a development that may suggest that in the long run, no one will be able to ignore Bitcoin.
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