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Leo Melamed, president emeritus of the CME group, is optimistic about bitcoin, predicting that cryptocurrency will become a new asset class next to gold and traditional stocks.
[19799006] Leo Melamed, widely recognized as the founder of the financial future and the former president (chairman emeritus) of the CME group, sees Bitcoin beyond being a cryptocurrency to become a new class of assets in their own right.
In an interview with Reuters, the legendary financial figure talks about the CME Group's plans to launch bitcoin futures this year. Melamed expects the launch to open the floodgates for large institutional investors to enter the bitcoin space and has continued to claim that the CME group will tame it towards the world. consumer acceptance while playing according to regulatory rules.
He told Reuters the upcoming launch of the bitcoin futures contract:
This is a very important step for the history of bitcoin … We will regulate, make bitcoin not crazy, nor wild. We tame it as a regular trading instrument with rules.
The 85-year-old financial pioneer soon saw similarities between cryptocurrency and the international money market futures (IMM) that he launched as CME's president in 1972, which is now one of four main divisions of CME. He now sees the possibility of bitcoin representing a new asset class based on blockchain technology, beyond being a transactional P2P cryptocurrency.
He declared:
In the 1970s, the world did not consider currency trading as a viable financing instrument. I too have gone from not believing (in bitcoin) to want to know more.
Fueled by the support of the world's largest exchange owner, bitcoin prices have climbed above $ 7,500 since the CME group's announcement last week.
Melamed's perspectives on Bitcoin contrast sharply with those of Jamie Dimon, CEO of JP Morgan Chase, who called Bitcoin a "fraud" in September. For Melamed, bitcoin represents a new technology, a technology that makes the opponents obsolete.
In statements reported by Reuters, Melamed stated:
My whole life is built on a new technology. I never said no to technology. People who say no to technology are dead soon. I'm still the same guy who believes, at least by looking at change. That's what Bitcoin stands for.
On the front page of YouTube / Waseda University 早 稲 田 大学.