The term HODL is a trademark of any seasoned crypto enthusiast, trader, and believer. It has been used vastly in the last 6 months to signify the bravery of watching the crypto markets spiral out of control without having the urge to cash out and run for the hills. Some have even made interesting memes and gifs that include scenes from Mel Gibson’s movie known as Braveheart. The HODLers faith and belief in a better and bullish crypto market might be bearing fruit with the recent talk about Bitcoin (BTC) bouncing back due to institutional investors wanting a piece of the profits crypto traders and exchanges are making.
One such traditional stock exchange aching for a piece of the action in the crypto markets is Swiss-based SIX. The exchange plans to offer fully integrated trading, settlement and custody infrastructure for digital assets. SIX is regulated by Swiss Authorities as an operator of Financial Market Infrastructure (FMI). Two other entities regulate SIX. These are FINMA (The Swiss Financial Market Supervisory Authority and the Swiss National Bank.
Jos Dijsselhof, CEO at SIX is quoted as saying:
“This is the beginning of a new era for capital markets infrastructures. For us, it is abundantly clear that much of what is going on in the digital space is here to stay and will define the future of our industry.”
Therefore, through this declaration by SIX to offer crypto trading services, the Swiss government has officially endorsed cryptocurrencies as investments. We all know that the Swiss banking system is where all the big money is. Lots of Hollywood stars, oil billionaires, and trust funds, have Swiss banks handling their money. This means such high net individuals and institutions can opt to diversify using SIX to tap into the crypto markets.
There you have it, ladies and gentlemen. Keep HODLing. The big bull run is coming in the crypto markets. One is tempted to speculate that the current low levels are intentional so that the above traditional exchanges can stock up on their own cheap BTC, ETH, XRP and the rest, as they gear up to offer the known crypto exchanges some competition.
One of the factors that is enticing traditional stock exchanges into the crypto industry is the vast profits crypto exchanges are making through trading fees. Binance for one was only set up a year ago and its CEO is predicting $1 Billion in profits for the year ending 2018.
For the latest cryptocurrency news, join our Telegram!
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
Image courtesy of Pexels
The post Keep HODLing BTC, ETH, XRP, TRX and others. Traditional Stock Exchanges Are Moving Into Crypto appeared first on Global Coin Report.
Globalcoinreport.com/ is author of this content, TheBitcoinNews.com is is not responsible for the content of external sites.
TheBitcoinNews.com is here for you 24/7 to keep you informed on everything crypto. Like what we do? Tip us some Satoshi with the exciting new Lightning Network Tippin.me tool!