Wall Street Encroaches Further Into Crypto
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The Treasury Company Accumulation Continues
As you know, the present bullishness in Ether is being driven by the appropriation of the Ethereum blockchain by Wall Street, for Wall Street. If you are a crypto purist this may offend, but that ship has sailed. The thing about TradFi is, it has all the money. As in, all the money, so when it decides it wants something, it gets it. Wall Street wants the Ethereum blockchain for the reasons originally promoted by Ethereum creators; it is reliable and can handle a large number of database fields aka. ’smart contracts’. Such contracts are programmable, meaning, logic can be built into them unlike paper documents. If, for instance, collateral is pledged for a loan and the collateral provided is Ether, and the collateral contract is held on the Ethereum blockchain, then if the conditions for surrender of collateral happen, the contract executes automatically and the pledged Ether is taken from the pledgor and handed to the pledgee. No costly legal bills! No time-to-money! Reasons like this is why Big Money now loves Ether.
Ether Short-Term Price Target: $5600++
Let’s get into how the treasury companies are doing. What follows is for subscribers only. If you’re blocked by the paywall, you can access the work by subscribing to either Big Money Crypto, or Inner Circle.