Tom Lee: Millennials’ Distaste for Banks Could Trigger New Wave of Crypto Financial Institutions

european binary trading

Fundstrat co-founder and crypto bull Tom Lee says Millennials’ aversion to banks has the power to dramatically reshape the financial landscape, with crypto-friendly companies like Robinhood and Square poised to reap the benefits.

In a series of tweets, Lee points to the recent crypto announcement from ICE, the owner of the New York Stock Exchange, as a sign that crypto is creating the dawn of a new financial era. He also highlights how a number of financial bedrocks like Goldman Sachs and American Express are finding ways to leverage themselves to prepare for a Millennial departure from traditional banking.

In addition, Lee points out that ICE’s new crypto platform Bakkt is likely to have distinct advantages over current crypto exchanges like Coinbase. ICE plans to create a new type of one-day futures contract that actually pays out in Bitcoin.

Join us on Telegram

Since ICE long ago cemented relationships with big financial institutions like JPMorgan and Fidelity, Lee says this will ultimately create a path for mainstream investors to obtain Bitcoin through their brokers, which will lessen the need for a Bitcoin ETF.

According to a new survey, cryptocurrency is one of the few things millennials are actually investing in these days, as a way to save for retirement funds.

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin or cryptocurrency. Your transfers and trades are at your own risk. Any losses you may incur are your responsibility. Please note that The Daily Hodl participates in affiliate marketing.

Check Out the Latest Headlines




    The post Tom Lee: Millennials’ Distaste for Banks Could Trigger New Wave of Crypto Financial Institutions appeared first on The Daily Hodl.