For the past decade or more, all I’ve heard bankers say about bitcoin is that it’s a scam — a Ponzi scheme — purely useful for money launderers, paedophiles and terrorists. So, why are banks now offering bitcoin services? The answer is obvious: because customers want them.
During the first half of the year, almost all major banks made public announcements about offering custodial services, trading services, transaction services and more related to bitcoin, ethereum and other cryptocurrencies. Yet, when talking to these banks, they tell me they still hate the idea of cryptocurrencies and still believe they are not for the public good. However, when one bank announces a cryptocurrency service, the others have to follow the market trend.
