VISA executive declares that the liquidity of Bitcoin will increase in the crypto market, much more that Goldman Sachs tends to enter in the crypto world.
Jon Matonis, the co-founder of Bitcoin Foundation and executive of VISA sustained that the price of Bitcoin will surge once the Goldman Sachs enters in crypto market.
VISA executive Says Bitcoin Price Will Surge
Jon Matonis declared:
“I think it’s fabulous that they’re getting into it because it brings in new liquidity. They’re going to develop futures markets, options markets, I even think you’re going to start to see interest rate markets around Bitcoin. We’re used to hearing things about Libor, the index for bitcoin interest rates is Bibor.”
It is a fact that currency market is very volatile. One of the main factors is that the market doesn’t have enough liquidity. Since the correction from January this year, the trading volume in the market has decreased, with the Bitcoin price too.
Some of the market whales and some investors, managed to manipulate the market. That is the main reason for the movements of the prices from the last months.
The entrance of Goldman Sachs will be an example for others retail traders to follow the entrance into the crypto space.
When will banks be ready to enter crypto space?
The investment of public finance industry’s capital on the crypto market is still at low level.
Mr. Matonis has further highlighted that to the skeptics that have referred to Bitcoin as a bubble, Bitcoin in reality is not a bubble, but a pin that would destroy the global financial bubble. He has stated the following:
“To the people who say Bitcoin’s a bubble, I would say Bitcoin is the pin that’s going to pop the bubble. The bubble is the insane bond markets and the fake equity markets that are propped up by the central banks. Those are the bubbles.”
It is uncertain when the biggest banks will decide to join the crypto market. For instance, the market hadn’t very high prices in the last months. When the market will have its recovery, the demand for crypto space for the banks will become bigger and bigger.