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You are smart and you are ready to take this to the finish line. This is new to you, that's why you don't understand what this is all about.
You had no way to know, because no one taught you.
The institutions can afford to look on the sidelines and wait for the right price for them to get in. $80.000 for a Bitcoin may seems a lot for the average person;
it is nothing for Institutions like Goldman Sachs; Morgan Stanley; JP Morgan; who made a 360 turn and backpedalled on their previous public negative statements about Cryptocurrency and Bitcoin in particular.
They all have not only reversed their position but stated that they are readying to expose their "Wealthy clients'' to derivative crypto products funds. VISA, is one of the latest to make a big splash in the news, announcing that their merchants around the world will be able to accept payment in crypto.
PayPal, shook up the financial sector on October 21 2020, when they announced that their customers would be able to start to invest in the most ancient crypto coins from their PayPal dashboard.
PayPal's United States Shoppers for now will be able to pay using their Cryptocurrency balance to make purchases. These are some of the most famous companies getting in the game. They are not late because they are already wealthy and popular brands.
Recently some of them have admitted having Bitcoin and other crypto in their portfolio. Now that they have full crypto bags; talking about Bitcoin in a positive way can potentially send the price of the crypto assets to the roof and make them even richer.
There are noteworthy exception thought. Tech investor Jay Z and Twitter CEO jack Dorsey have invested $23 Million / 500 Bitcoin at the time of the investment, into a new endowment called ₿trust.
The investment would be used to fund Bitcoin development in Africa and India. He noted that the endowment will be set up as a “blind irrevocable trust” and have “zero direction” from himself and Jay-Z."
There is much to say about institutions and celebrity billionaires; but today I will focus on what you may have wanted to learn in school but you gave up and just did your homework or cut out of school altogether.
What was my surprise when I read that Thailand's Securities and Exchange Commission (SEC) has clarified its guidelines to stipulate that those trading cryptocurrencies in the country should have some foundational knowledge.
You can read more here on Cointelegraph, about what the Thai SEC Secretary General Ruenvadee Suwanmongkol said.
In a nutshell, they are offering a free training or to pass a test to prove their knowledge.
That course is called "Crypto 101 For Investors Who have no Experience Trading in Cryptocurrencies."
High Notes: The measure of a trader's abilities will not be based on income or financial status, "but rather how they manage investments portfolios a clear reversal form their previous announcement las month that would have required a for a trader to make a minimum of 1 million Baht more or less $32.000 annual income for investment in the country.
That decision had met outrage from crypto users as it would leave out low and middle income earners out of the crypto market.
Suwanmongkol, walked back the SEC's position, and said that the draft was intended to gauge public opinion. The training and education on crypto and it's market will be taking the place of the annual requirement. Thailand crypto exchange Upbit received approval from the SEC this year.
The United States Coinbase crypto exchange will have its IPO on April 14 2021, exposing millions more people to crypto via their "COIN" stock direct public offering. Coinbase, is valued at $100 Billion.
If the SEC, in the United States, were more busy educating crypto enthusiasts instead of potentially suppressing tech innovation in the space by going after startups; for regulations about what is deemed a security token and what isn't within the crypto market there could be arguably less fud/ more confidence in the market. People would know the fundamentals of the crypto market.
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