NYSE Trader Said “Bitcoin (BTC) Is Very Iffy” After The Launch Of The Bakkt Bitcoin Exchange

A New York Stock Exchange (NYSE) dealer commented to Yahoo Finance in an August 3rd interview that Bitcoin (BTC) is “very iffy” at this moment, following the introduction of the new regulated Bakkt Bitcoin (BTC) exchange, ruled by Intercontinental Exchange (ICE), the holding entity of the NYSE.

Alan Valdes, Managing Director of international consultancy Silverbear Capital and NYSE trader, voiced his worry over BTC when questioned if the inception of Bakkt might be a signal that Wall Street is taking cryptocurrencies seriously.

How do you protect your Bitcoin (BTC)? These wallets seem doubtful at best. Anybody gets into her, it’s like losing cash, you’re out. So, I think Bitcoin [has] come a long way to involve an average person. Perhaps in some emerging markets, it will keep up that this cryptocurrency could be a little stronger, it could work. But I think here for the trade, I mean, we had $20,000. Are we gonna get back there? Everything is possible. But I’m not sure.

Alan Valdes

Bakkt Bitcoin (BTC) exchange platform is a new regulated crypto trading operator under the Intercontinental Exchange (ICE), the parent of NYSE

The Bakkt Bitcoin (BTC) exchange will reportedly cover federally regulated markets and storage in parallel to “commercial and consumer applications.”

“ICE says it plans to support Bakkt’s transaction flows into the $270 billion digital asset marketplace and make them secure and efficient,” added Valdes.

The sentiment of Wall Street investors about digital assets has improved, lately, as Goldman Sachs CEO Lloyd Blankfein, who repeatedly declared that Bitcoin (BTC) “is not for him,” commented in May that a highly dedicated team of researchers had studied how Goldman Sachs can provide a variety of cryptocurrency-based solutions in response to clients’ requests.

In July, on the other hand, BlackRock, the largest exchange-traded fund (ETF) platform in the world, unveiled the establishment of a workgroup to evaluate the potential investment in Bitcoin (BTC).

Jackson Bey

Jackson Bey was born and raised in Lethbridge Alberta but moved east when he was 22. Apart from running his own consulting firm. Jackson spends his time canoeing the many lakes of Ontario. As a financial journalist Jackson has published stories for CBC Business Online, as well as Buzz Feed and Motherboard. As a contributor to Billionaire 365, Jackson mostly covers markets and trade.

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