How Much Are Banks Investing In Blockchain And Crypto?
These days, cryptocurrencies and blockchain technology are very much accepted as a fact in the world of finance (and beyond) and represent perfectly viable investment options for anyone who sees that as an opportunity for profit. Somehow, though, they still aren’t part of the mainstream.
It may therefore come as a surprise to you when you hear how much some of the biggest banks in the world are investing in this. And they are not necessarily investing in cryptocurrencies alone - blockchain technology is particularly interesting to banks and the financial sector in general.
So, let’s discuss this investment a little bit, shall we? A few general points on cryptocurrency and blockchain tech first before we move on to the actual numbers.
Why Invest In Blockchain And Crypto?
The reasons why banks invest in cryptocurrencies boil down to the fact that there is a very real chance for exponential growth in value there. Think of where Bitcoin was a few years ago and where it is now. At the beginning of 2019, its price was a little over 3000 EUR. Today, it’s ten times that. Recognizing a coin that will gain this much value can make you very rich.
Furthermore, blockchain technology is extremely secure and perfect for storing information about any and all transactions. A strong blockchain network is virtually impenetrable, so you can see why banks would be interested in this. Not only that, but knowing that data cannot be altered is good for banks’ clients, too. That is a win-win situation in the banking world.
The Numbers For Cryptocurrency Currently
But how big exactly is the crypto market? Oh, pretty big: the total value is estimated to go beyond 2 TRILLION dollars. It’s not easy to even imagine that sum, is it?
And major banks want a piece of it. So much so that dozen of the biggest banks in the world have made investments amounting to 3 billion dollars, and they’re not stopping. For example, British Barclays has been actively investing in the development of blockchain technology. Morgan Stanely, BNP Paribas, JP Morgan Chase, and other behemoths have also made similar investments.
All this talk about investments and finding the coin that’s going to soar in value may inspire you to do some investing yourself. The important thing to remember in that case is that you should always do that on safe and reliable websites.
And if you’re looking to do some investing by simply exchanging one cryptocurrency for another because you’re expecting the other coin to go up, the best way to do so is to click here.
A Good Investment
It certainly seems like investing in cryptocurrencies and everything else blockchain technology brings is a good move. There are loads of things in development now that are based on smart contracts, an integral part of this new technology.
Keep an eye out for any such opportunities, and you just might find a great investment opportunity. Or try gathering as much information on the cryptocurrency market and predicting which coin will be the next to see its value go sky-high. The opportunities are quite numerous with crypto coins and blockchain tech.
