Bitcoin Receives Support From Important Investors

Nothing can break Bitcoin power to attract more and more investors. In the past hours, different information appeared in the media regarding important hedge funds and trading companies that are going to work with bitcoin.

Man Group Hedge Fund Ready to Start Trading Bitcoin

Man Group, a United Kingdom based hedge fund, will start to trade with bitcoin in the near future. In order to do so, the CME Group’s plan regarding the futures exchange needs to be approved. Man Group is one of the biggest hedge funds in the world, according to the news appeared in Business Insider. The company manages a budget around $103.5 billion dollars in funds.

If such a big fund starts to operate in the Bitcoin market, it can influence the price of this cryptocurrency. Bitcoin had, in the last 24 hours, a trading volume of about 4 billion dollars, just 3,8 percent of the total funds of Man Group.

CME Group May Trade Bitcoin Futures

Bitcoin arrived at new highs some weeks ago, reaching $7900 dollars per coin. The CME Group announced that they will start to trade Bitcoin futures because of the increase in its price. These are good news for the bitcoin community. The famous virtual currency is being recognised by the largest futures markets as a legitimate asset integrating it into their offerings.

According to David Johnson, CEO of Latium, he believes that the most important boost for bitcoin comes for retail adoption. The trading of futures per se will not be the main reason of the price increase, says Johnson; but this will allow bitcoin to be added to different retail companies.

Airlines do something similar when they trade with oil futures. The intention is to lock in the price of jet fuel in order to charge passenger with better fares. With daily oil markets fluctuations, it would be impossible to operate effectively.

The CME Group will provide services for traditional institutional investors with hundreds of billions of dollars available to be exchanged. It is difficult for such investors to trade Bitcoin due to the reason why they are not having reliable trading exchanges operating with so much volume since a long time. The investors are probably not going to buy bitcoins directly, but instead, they are going to buy future contracts. In this way, they can bet on the bitcoin price without owning the asset.

Inter-Blockchain Payment System Launched by Fujitsu

Fujitsu IT firm launched a plan to facilitate transactions between Blockchain in mid-November. The intention is to provide a new network for different cryptocurrencies to operate within each other.

“Settlement between virtual currencies managed using blockchains, however, requires a reliable application to handle the currency exchange processing at the boundaries between the Blockchains, and ensuring transparency in this process has been an ongoing issue,” wrote the company in a statement.

The company believes that this technology can solve issues regarding transactions by connecting different Blockchains and executing a transaction process that can be executed automatically. The intention is to start commercializing the technology in 2018 depending on the results of the testing.

“Fujistsu Laboratories will continue expanding this technology beyond currency exchange to areas such as high-trust data exchanges between companies and contract automation, while also continuing to conduct trials in a variety of fields, with the goal of commercialization in the fiscal 2018 and beyond,” reads the statement.

These are great news for Cryptocurrency industry and the Bitcoin – who’s preparing for a new  All-Time High

Sharing is Caring!