Big Banking... Will Fear or Greed Win?

I am relatively new to cryptocurrency investing but have dabbled in traditional stock investing for 20 years. When I was 12, my favorite movie was Wall Street. I would fantasize of the day I would be moving in the circles of Asher Edelman (aka Gordon Gekko). No, I did not want to be the bad girl but the idea of $1,000,000 deals and wielding financial power was alluring. At age 23, I began my career as a Stock Broker. At age 23.5, I ended it.

What I thought required financial genius only needed a little computer prowess, greed and questionable ethics. Out of the gate, we taught how to push investments with the highest commission rates and encourage turn despite the soundness of an investment. In addition to our sales commission, we would receive bonuses based upon how much we could turn or push the highest commission investments to our trusting clients. The allure faded. I knew I could never make money at the expense of someone else. I moved on and now invest only for myself. (Since then, I have had the privilege of meeting quite of few financial advisors, brokers and traders who do not require you to comprise your ethics to reach success but this was not part of my honeymoon in the industry.)

Like many traditional investors, I did not initially understand or believe bitcoin would be around for long but after hours of conversations with friends, I was intrigued. I began studying cryptocurrency and blockchain technology in earnest. Once I understood, it easily earned my trust and I am excited to see how it will reshape our economic landscape. Despite my excitement, I still hesitated. I worried that big banks and big business would find a way to lobby interference and disrupt this potential disruption to their fat wallets. I assumed they would feel threatened and fear this new style of currency and financial markets. Despite this concern, I purchased my first bitcoin three months ago.

Then something great happened. The industry announced bitcoin futures and erased my fears. While regulatory risk will always be present, I am no longer worried about the Gordon Gekko’s of the world trying to stop the train. They are too arrogant to be afraid and see the real risk it represents. My vote, they will continue to allow greed to dictate their course and will focus on finding ways to profit from this “bubble” before it pops, because to them, they are convinced it will pop.

While regulatory risk remains, I decided I want to invest in crypto not only to finally make the fortune my 12 year-old-self dreamed about, but because I want it to succeed. I want this disruption to take hold and force “the too big to fail” monoliths to adapt or perhaps even fade away.

I plan to ride this bubble to the moon.