Summary
- Strike CEO Jack Mallers said Wall Street’s participation in the Bitcoin market poses a limited threat.
- He said the value of assets such as real estate, art and government debt will decline, with Bitcoin replacing them.
- He also said Wall Street’s entry into the Bitcoin market is accelerating with the 2024 launch of spot Bitcoin exchange-traded funds (ETFs) and Morgan Stanley’s rollout of crypto trading services.
Forecast Trend Report by Period
Wall Street’s growing role in the Bitcoin market poses only a limited threat to the cryptocurrency, Strike CEO Jack Mallers said.
Mallers made the remarks on a recent episode of the “What Bitcoin Did” podcast, Cointelegraph reported on May 9. “If Wall Street’s entry could kill Bitcoin, then Bitcoin was never going to succeed in the first place,” he said.
He cast Wall Street’s participation in a positive light. Bitcoin is competing for global capital, he said, and wealth now held in real estate, art and government debt will lose value as Bitcoin takes its place.
The comments come as some Bitcoin backers have recently grown more critical of large financial institutions entering the market.
Wall Street’s move into Bitcoin has accelerated since spot Bitcoin exchange-traded funds launched in 2024. Morgan Stanley also started offering crypto trading services through its E*Trade platform on Tuesday.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
