RATE Group | One Firm Is Way Ahead of Wall Street on Bitcoin
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One Firm Is Way Ahead of Wall Street on Bitcoin

05 Jun One Firm Is Way Ahead of Wall Street on Bitcoin

Posted at 23:28h in Bitcoin News by

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Mr. Smith said that he could also imagine Bitcoin, or some competitor, becoming a digital payment method for the internet — as Jack Dorsey, Twitter’s chief executive, recently predicted — but that he wasn’t too worried if that didn’t happen.

“We believe that this technology and this asset class is going to change some facet of financial services, and we think it is going to exist forever,” he said.

Susquehanna first experimented with trading Bitcoin in 2014 after the investor twins Cameron and Tyler Winklevoss asked the firm about being involved with a Bitcoin E.T.F. that they had applied to regulators to create.

Regulators eventually denied that application. But Susquehanna kept its one Bitcoin trader on board, and then added a few more last year when the cryptocurrency markets took off.

The firm decided to step up its operation, and go out to clients, after seeing the success of Bitcoin futures contracts, which were introduced by exchanges in Chicago late last year and…

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