Cryptocurrency: Financial Industry Assimilation Pace Accelerates

In a document titled, “Bitcoin Decrypted: A Brief Teach-In and Implications,” Morgan Stanley Financial Services (MSFS) claims Bitcoin and altcoins to be a “new institutional class.” Based on early 2018 number-crunching reports, MSFS reports a strong formation of new funds targeting the sector, as well as the “growth” of cryptocurrency-tied futures. Despite a strong “wait and see” initial attitude from many investors and analysts alike, MSFS appears quite bullish on the future of cryptocurrency. It’s become quite apparent that in spite of strong initial skepticism, MSFS has been bullied into a more positive outlook, based almost entirely on strong client demand. Anonymous sources last month inferred to mainstream media that large organizations like MSFS would follow the lead of fellow Wall Street heavyweights Citigroup and NASDAQ, in considering expanded Bitcoin trading options for clients.

The report covered many features and benefits of various cryptocurrencies, but the common and most appreciated feature continues to be decentralization. Over time, global financial systems have been built by individual countries and governments for their own purposes, but they’ve always been centralized systems which result in a single “highest authority,” such as a central bank or government apparatus. The obvious disadvantage of this system lies in the potential failure of that single point of control. Any malfunction at that point provides the potential for immediate and serious consequences, whether intentional or accidental is immaterial. Cryptocurrencies remove the central hierarchy and replace it with a decentralized blockchain system that doesn’t depend on any single point, making it far more resilient, democratic and efficient. It offers every single user the opportunity to become one of the network’s many payment processors.

No one will argue that cryptocurrencies aren’t capable of radical movement in the short term. However, like precious metals, cryptocurrencies are not typically affected by stock market whims and gyrations, so they offer an effective opportunity for an inflationary hedge and clear portfolio diversification. Cryptocurrencies held in a self-directed IRA are experiencing an uptick in popularity, due to the long-term potential for growth.

American Bullion was a pioneer in the Gold IRA industry and is fully equipped to assist with the inclusion of Bitcoin in a self-directed IRA, whether existing or needing to be created. American Bullion’s professional network insures that a client’s Bitcoin needs will be met with the same award-winning customer service, diligence and care that thousands have appreciated for many years. Call American Bullion at (800) 653-4653 for service or further information.