Financial institutions continue to take a stand against Bitcoin, but its popularity shows no sign of waning.
Nolan Bauerle, Director of Research at Coindesk, told Cheddar that companies shying away from cryptocurrency are making an unwise decision, given high investor interest and increased popularity.
“Bitcoin doesn’t care, Bitcoin dealt with the [People’s Bank of China] already banning it,” he said. “Here you’ve got these guys...trying to make some kind of political point, and the market and cryptocurrency will not care, and will ignore it to the extent that they’ve already ignored the PBOC.”
Financial firm Merrill Lynch recently jumped on the anti-Bitcoin bandwagon, banning clients and financial advisers who trade on their behalf from buying it. Advisers are not allowed to sell Grayscale’s Bitcoin Investment Fund, and bitcoin futures contracts are also forbidden.
Bauerle contends that these banks will have to retract and “come back eventually.”
For full interview [click here](https://cheddar.com/videos/inside-the-factors-driving-ripples-xrp-surge).
Jeff Benedict, author of 'The Dynasty,' weighs in on the Kansas City Chiefs being the next big dynasty, who he thinks will win Super Bowl LIX and more. Watch!
Susan Bourgeois, Louisiana Economic Development Secretary, talks preparations for Super Bowl LIX, plus Meta’s $10B data center coming soon to North Louisiana.
Triller CEO, Sean Kim, joins Cheddar to discuss how content creators are looking for alternatives in the U.S. as TikTok's future hangs in the balance. Watch!
