ICE Creating New Cryptocurrency Market: A Double-Edged Sword

Just as I was working on the last of the 3-part series for Forbes.com about the building rivalry between cryptocurrencies and Wall Street, ICE (parent of the New York Stock Exchange) announced it is building Bakkt–a new cryptocurrency platform and ecosystem. This is positive for cryptocurrencies in many ways, but it’s also negative because it’s the beginning of Wall Street creating financial claims to bitcoin out of thin air (and not backed by actual bitcoins), which offset some of Bitcoin’s algorithmically-enforced scarcity.

Read about it here. Thanks!

About Caitlin Long

Blockchain/bitcoin expert, 22-year Wall Street veteran