Thomas Lee, a research president at Fundstrat Global Advisors, announced on Twitter on Thursday, August 9th that corporate investors found the purchase of Bitcoin over ICE / grocery stores more attractive than existing crypto exchanges such as Coinbase and Binance.
Before studying Lee’s argument, on August 3, 2018, the New York Stock Exchange (NYSE), Intercontinental Exchange (ICE), said that the mother company would open a new company called BAKKT.
The famous analyst made an open, uninterrupted global network definition of your digital assets in a simple, safe and efficient way to buy, sell, storage and spend your digital assets. Ice press release, one of the first products of Bakkt will be a fully regulated Bitcoin futures product, he said.
BAKKT website provides some more information about this product:
“In November, ICE FUTURES US and ICE Clear will allow the physical Bitcoin futures and warehouses in coordination with BAKKT.
Contract size “1 Bitcoin”
Now, let’s look at the reasons why Lee’s purchase of 1 -day Bitcoin term transaction contracts through ICE / BAKKT for institutions, and thinks why it is better than stock exchanges like Binance:
“3 / ICE has already had the existing trade relations with banks such as @fidelity @charlesschwab and JPMorgan, which means that it is a natural way for traditional retail investors to access Bitcoin through their own stock markets.
“4/ICE is the opposite side of the trade (just like @binbase and @Binance).
https://twitter.com/fundstrat/status/1027571903828033537
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