RATE Group | Bitcoin’s mass adoption may be slowed down by TD Ameritrade and Charles Schwab deal
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Bitcoin’s mass adoption may be slowed down by TD Ameritrade and Charles Schwab deal

30 Jan Bitcoin’s mass adoption may be slowed down by TD Ameritrade and Charles Schwab deal

Posted at 14:11h in Bitcoin News by

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  • Mike Novogratz cited the reason of slow Bitcoin adoption.
  • BTC/USD is moving in a range with the critical support created by $8,000.

TD Ameritrade deal with Charles Schwab will be detrimental to Bitcoin

The head of Galaxy Digital Mike Novogratz believes that the deal between TD Ameritrade and its rival Charles Schwab would affect negatively the whole cryptocurrency industry. According to Novogratz, TD Ameritrade was developing solutions that would have allowed financial advisors to hold and trade Bitcoin; however as Charles Schwab opposes cryptocurrencies, considering them a speculative investment,  TD Ameritrade had to ditch its plans. 

Notably,  TD Ameritrade was a prominent supporter of Bitcoin futures in 2017, while Tim Hockey, the CEO of the company believes that there is a growing demand for crypto-related instruments. He is set to leave the company in February 2020. At that time he cited a disagreement with the Board about the future development…

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