CRYPTONAIRE
WEEKLY CRYPTO investment journal
CFTC Chairman Expects Bitcoin Futures Volumes to Grow, Wants to See US Lead in Blockchain Technology
The chairman of the Commodity Futures Trading Commission (CFTC), Dr. Heath P. Tarbert, anticipates Bitcoin futures trading to increase and wants to see the US at the forefront of blockchain technology innovations in finance. In an interview with Anthony Pompliano during the virtual LA Blockchain Summit, Tarbert explains that once cryptocurrencies and digital assets see more real world use, BTC will see more action in the futures market.
âI do expect the volumes to grow in the years ahead. But the other aspect of it has to do with the industry itself⌠Really our derivatives markets serves two purposes. First, they allow hedging, and then they also create price discovery where people can rely in some cases on derivatives prices to inform their decisions in the actual underlying markets. Right now thereâs a real question as to who will actually purchase Ether or Bitcoin contracts for purposes of hedging. Right now the only people weâre seeing in these markets are speculators meaning they donât actually have an underlying risk theyâre trying to lay off⌠That could all change to the extent that we start to see Bitcoin, Ether and other digital currencies being used for commerce. I think thatâs going to be the key. Itâs going to be the length of time, but also the extent to which digital assets and cryptocurrencies begin being used by the real economy and thereâs people that say âI need to go to the futures market to hedge it.ââ Read more...
Cryptonaire Weekly | October 13th 2020
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