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Sources close to the issue told Bloomberg that Nasdaq Inc. is planning to press forward with plans to list Bitcoin futures. This is controversial and some may say unexpected move since Bitcoin prices continue to fall. However, it is thought the Nasdaq has confidence in the sustained public interest of Bitcoin, expecting the cryptocurrency to be a key player in the market.
The Nasdaq Stock Market is an American stock exchange and the second largest stock exchange in the world by market capitalization (New York Stock Exchange is in the number 1 spot). In November last year, it was reported that Nasdaq planned to introduce Bitcoin to the exchange after Bitcoin continued to hit record values. The plans were met with excitement by cryptocurrency enthusiasts since it would mean plunging Bitcoin further into the mainstream and casting a wider net to entice more Bitcoin investors. It was originally reported that Nasdaq hoped to put Bitcoin on the exchange by the second quarter of 2018; however, as Bitcoin plummeted in 2018, news of the plans went quiet.
Many people assumed that the plummeting of Bitcoin put Nasdaq off the idea, not wanting to attach their name to a volatile cryptocurrency, but it now looks like that isn’t the case, or at least it wasn’t enough of a scare. One source said that Nasdaq wants to have Bitcoin futures on the exchange in the first quarter of 2019. Nasdaq hasn’t commented on the rumors, but it’s possible they may do soon since they will want to take control of the news in time for Bitcoin’s debut on the exchange.
This is a bold and welcomed move by Nasdaq if the rumors are true. For crypto enthusiasts, the continued fight to bring cryptocurrency to the mainstream is both fast and slow, or at least, not fast enough. Although many companies and even banks are moving towards entering the blockchain or cryptocurrency space, it seems for every company joining the frontier, there is a regulatory body, a government, an exchange or bank ready to put a spanner in the works.
This pattern has left the mainstream public confused about where they should stand on the cryptocurrency issue. Many people see crypto as a world they want to explore and one that’s likely to be important in the future, and they don’t want to be left behind. In the minds of the public, crypto is similar to the gold rush, wait too long and you miss the boom. But many people are at a loss as to what they should do.