Cryptocurrency Market Will Get ‘Much Bigger’: Former JPMorgan Banker
Daniel Masters, who previously led JPMorgan’s global energy trading desk, says cryptocurrencies are fueling a financial revolution.
Masters is now chairman of digital investment bank Coinshares and chief investment officer at Global Advisors, and he explained in an interview with Bloomberg how distributed ledger technology is doing for the democratization of peer-to-peer transactions what the internet did for the democratization of news.
“That’s at the core of what makes this a revolution,” Masters told Blooomberg.
I understand completely why you would say that, but after thinking it through, I think it’s a good thing. The more innovative-minded types are joining the crypto band wagon but are after all bringing relevant financial markets experience with them. I think crypto needs to join the financial market - not fight it. At least for now. In the future perhaps crypto will be the only type of currency, but as that is almost certainly not going to happen like a military coup overnight, then it is good to transition industry players with the new products. Some will resist it to the end, and those players are unlikely to survive long-term.