"European Banks Could Hold Positions In Bitcoin Too" - Mario Draghi, Head Of ECB by dragosroua

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· @dragosroua ·
$12.06
"European Banks Could Hold Positions In Bitcoin Too" - Mario Draghi, Head Of ECB
Back when I was trying my hands at forex, I remember how a statement from Mario Draghi, the head of European Central Bank could swing the markets up or down in a second. I didn't think I will "meet" again with Mr. Draghi, but life has its ups and downs, and here we are, in a completely different universe than 5 years ago, with this new asset class called "cryptocurrencies" making its way into the world fiercely. So fiercely that governments are trying to ban it (when they're not trying to regulate it, that is) and central banks are forbidding it (like China PBOC). 

But in a surprising turn of events, this piece of news stood up this morning for me. It's a [statement](https://www.ccn.com/european-banks-soon-hold-bitcoin-admits-ecb-president/) Draghi made this week at the European Parliament. And it says, mind you, exactly this:

> However, recent developments, such as the listing of Bitcoin futures contracts by US exchanges, could lead European banks too to hold positions in Bitcoin, and therefore we will certainly look at that.

That's such a long way from "these nerds and their tokens" approach. 

Don't ya think?
***
_I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at [Dragos Roua](http://dragosroua.com) where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua._
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vote details (72)
@junaidiqbal ·
Nice post didn't read all of it but got the idea.   
Keep posting.   
And stay blessed
Just upvoted u
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@steemfluencer · (edited)
$0.23
Hey @junaidiqbal. I understand you are still new on Steemit, however such kind of comments are considered as a spam. Said otherwise - with such comments you are begging me to flag you.
👍  , ,
👎  
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@kilbride ·
Especially considering how short the post waa 😂 nice try dude
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@johnnyray ·
Many changes will happen for sure in the future
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@hdmed ·
Thank you for sharing , witness @dragosroua , i miss jour freind cloch and his interiew too
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@gillianpearce ·
$0.20
Is it potentially a bad thing if banks do this? If they held loads of cryto doesn't that mean they would have the power to manipulate markets?
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vote details (1)
@dragosroua ·
$0.03
It's a tradeoff. If they hold Bitcoin, it means they're making it legit. This comes at a cost of them potentially manipulating the market, as any other whale.
👍  ,
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@skytronia ·
$0.22
Most will eventually hold a position on Bitcoin. I'm about to write an article on how the 5 major Australian banks have backed Ripple. Logically, this would imply that they have an invested interest in all Cryptos. Certainly along way from nerds and their tokens!
👍  ,
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vote details (2)
@nathen007 ·
$0.12
Ripple is an interesting example of an interface between the old and new. I read many hard core crypto geeks guffawing at its attempt to get into bed with the traditional financial institutions but in my opinion thats a good thing as it proves the technologies usefulness and acceptance into modern financial practises.
👍  ,
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@skytronia ·
I liked how you put Ripple as an interface between old and new. I've just written a piece on Australian banks and their adoption of Ripple. Could I use that line?
 https://steemit.com/vincentb/@skytronia/four-of-the-biggest-australian-banks-now-using-ripple-foreshadowing-as-a-test-bed-for-other-global-banks-around-the-world-part-1 

Great reply, thanks.
👍  
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@azizulhassan ·
well future ... is full of surprises
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@vimukthi ·
$0.32
Isn't this the same jackass thug who opposed Estonia making their own cryptocurrency? Honestly I'm waiting for the day EU collapse so that the good countries like Estonia, Luxembourg Lichtenstein can be on their own.
👍  ,
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@foways ·
Exciting and thrilling to see the current market situation, many people die heart disease if not strong.
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@calatorulmiop ·
$0.20
Even the banks want in on the action :))
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vote details (1)
@digitalfirehose ·
$0.15
I have to wonder if the banks are undecided. Should they try to co-opt crypto or embrace it. I think it's a tough call for them now, but eventually, they will come to see that there isn't much they can do to stop it at this point.

Attention is starting to focus worldwide on cryptocurrency and it's already showing up in mainstream news. So far, I have not heard Trump say the word "Bitcoin" in public, but news accounts show that this is on his radar. So far, his admin is tying it to criminals on one end and on the other, crypto is just another investment to be regulated.

Here again, no elected officials have said that crypto should be banned. I don't think they have the nerve. Even if they did try, crypto is a network in every sense of the word and will route around damage.
👍  
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vote details (1)
@dragosroua ·
> So far, I have not heard Trump say the word "Bitcoin" in public

when this will happen, that would be a sad day indeed :))
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@nathen007 · (edited)
$0.32
Good spot, I hadn't read that. If anything, it's yet another example of Central Banks and Governments and their lack of transparency. We have no idea what goes on behind closed doors and simply shows, that after all the governments recent sabre rattling and rhetoric about crypto, they do privately recognise it's place in financial circles.
👍  ,
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@tex73110 ·
$0.20
<div class="text-justify">

They have imagined the day that the first partner of a "bank" government has to give way to a more personal economy, which will be the collapses or the profits at that moment, it's been more than 8 years, the banks have had time to reorganize and I personally have only seen issues of prohibition or regulation.

In Mexico the only "official" news has been that behind the cryptocurrencies hide delincuentes and that the use in human trafficking is very high, in fact it came on some occasion a deputy to say that bitcoin is the new tool of crime organized.

Last Christmas when I made some comments to my relatives ... they will know what faces they put, I am more than convinced that Mexico will be one of the last countries to adopt cryptocurrencies, we could never be like Estonia.

My mother told me that Christmas day, "be careful not to get involved with criminals" when I finish explaining that it is a cryptocurrency, I end up saying, "Who knows, that's very rraro" hahahaha

We are screwed in Mexico and I do not talk about money, because in Mexico there is always money despite what is said internationally, we waste money in a bestial manner, we are screwed in the adoption of new financial systems.

</div>
👍  
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@sebi99p ·
$0.20
I hated the EU enough already. Now I completely loathe these communists, who are just looking for more ways to control it's citizens. I hope they lose money on their trading.
👍  
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@svkrulze ·
$0.19
This coupled with new from Australia should now slowly set in action the recovery and bull run... Let's hope for the best
👍  
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@moneyinfant ·
$0.20
I believe Mr. Draghi has been very accepting of cryptocurrencies to this point. I certainly have no worries of draconian regulations or outright bans from the EU, based on what I've read concerning the ECB stance thus far.
👍  
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@gadrian ·
Oh my, world is catching up with progress!
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@coinverse ·
Now Europe is also gonna be  Next china for crypto? :(
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@steemmillionaire · (edited)
$0.30
I just wrote an article about a press release from the National Bank of Romania: https://steemit.com/bitcoin/@steemmillionaire/national-bank-of-romania-discourages-the-usage-of-cryptocurrencies

Not a surprise, I would say... They love to keep things under their control, and they have the tendency to block what they do not understand.
👍  ,
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@alexdory ·
$0.19
Nu ai vrea sa intri intr-o comunitate de romani? Incercam sa facem ceva, sa promovam platforma si la noi, poate sa producem mai multa calitate si sa incepem sa scriem si in limba romana. Multa lume din Romania ar avea atunci acces. Ne gasesti pe discord aici https://discord.gg/nQGyaK 
Ai avea multe de zis cu experienta ta! Mersi!
👍  
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@jsonkidd ·
$0.20
This is particularly interesting.Unlike most of the other comments on this post I think institutional interest is a good sign.Hopefully this helps drive even more innovation .I am looking forward to 2018 to be a good year for cryptos .
👍  ,
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@veleje · (edited)
That is a significant change, but also, there is a scary thought. 

Banks are leveraged, since they keep the profits and taxpayers are paying for loses. Imagine banks having leveraged positions on say bitcoin. Every 10% down move could push banks under water, causing taxpayers to fork out more bailout money yet again. Ouch!
👍  
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@kilbride ·
Interesting dynamic... ouch is right :/
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@rehan12 ·
Lol there will be more surprsing news in the coming days ,especially from the people who really opposed Cryptocurrencies in the past and now on the way of praising it !
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@themanwithnoname ·
$0.19
"These people are making money and we could too! Let's talk about planning to ban cryptocurrencies so the prices drops and we can get in on the action!"
👍  
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@trevor.george ·
$0.20
There is money to be made, big money, and the banks want their share of it, as do governments etc.

Everyone wants in on the game now. I wold suggest that the banks have been playing quietly in the crypto space for some time, feeling their way forward and seeing how it operates, how it can be manipulated, and what profits can be made.

No that they understand how it works, they will be keen to publicly get involved. Especially when they have bought up a good size of tokens when they were cheap. An announcement from a bank that it will support X token will drive the price of said token through the roof.

And the profits go to......... you guessed it, the bank.

As early adopters, there is still a good chance for us to capitalize on that however. Just keep up to date with developments and be ready to pounce when the banks say which token they will support.

Time to start posting and earning some SBD so I can be ready for the boom ;-)
👍  ,
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@skytronia ·
This was nicely put. It really is about the money for banks.
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@bronevik ·
$3.53
Your words when you are desperately out of options how to stimulate and what to buy
👍  
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@mysearchisover ·
$0.20
Wow! The USA government should probably start buying.
👍  ,
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