There is something new that sweeps the international investment landscape. Its price is climbing the charts even faster than Taylor Swift's new album, "Reputation," which sold 1.2 million copies in its first week.
Makes FANG flying stock look as docile as Treasury bonds.
Of course I'm talking about bitcoin. He likes it or hates it, owns it or wishes it to be, there's no denying that Bitcoin is here and has attracted a large following, from tech investors to skeptical types of Wall Street in general.
Last week, Nasdaq announced that it will launch bitcoin futures in the first half of 2018. This follows a move by CME, which announced two weeks ago that it will start trading bitcoin futures this month and received approval on Friday. for the negotiation of the CFTC.
There are two US exchanges in good faith and a pre-eminent US regulator. UU that will allow investors to bet on the increase and fall of the bitcoin price.
Without wanting to lose the line, decision-makers in Washington are now paying attention, which in fact has the potential to be a good development if they do not mess things up, something they have proven to be deeply capable of (especially when they do not understand something).
Or maybe they want to add a bitcoin tax to balance things with the deficit hawks.
Few things in life are as terrifying as the notion that "Washington will solve it". Look no further, Social Security, or loans for medical care or students.
But the change is in the air in DC. Politicians need to work with the US security exchanges. UU As the Nasdaq and the CME to find a way to integrate with the global exchanges that will surely align with bitcoin in a short time.
While I'm a big fan of the underlying block technology chain with smart contracts and distribuible ledger technology, bitcoin is a different story.
Although it is gaining acceptance, the cryptocurrency has the same bright sizzle without much substance that the Internet had in its early days.
The real question for bitcoin investors is whether it will become an Internet bubble in the "You have mail" fashion of AOL – in this case, "You have billions."