Bitcoin Banking Breakthrough Is Bigger Deal Than Most In Crypto Understand…

Fletch brought up Pomp’s old quote the other day and I’m going to repeat that mantra here…”Short the banks…Long Bitcoin”…or is it “Long Bitcoin…short the banks”…regardless, I am not a fan of the banks and banksters and this only reinforces that…

Bitcoin Banking Breakthrough Is Bigger Deal Than Most in Crypto Industry Understand, Says Caitlin Long

“In the near-term, Long believes crypto companies could be negatively affected by this decision because of the need to go through the lengthy process to acquire a bank license.

‘The entire landscape in the US just shifted and now you need a bank license in order to be competitive, that’s the bottom line…

If a bank can custody crypto, particularly if it is one of the big guys, all the native crypto companies now need to get bank licenses… It is not like folks weren’t warned… It takes nine to 12 months to get a bank license… It is an unbelievably difficult process.’”

https://dailyhodl.com/2020/07/28/bitcoin-banking-breakthrough-is-bigger-deal-than-most-in-crypto-industry-understand-says-caitlin-long/

Master Asked on July 29, 2020 in Bitcoin.
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