Two months ago when I had written an article that Wall Street will never allow the control of any financial asset to go out of their hands. Either they will force the regulators to regulate it killing the Free Spirit of this digital currency or create an asset class related to the Bitcoin to partially bring it under their control. People who do not know how Wall Street works from inside, what the mindset is of the wheelers and dealers of Wall Street can never understand what I meant by what I wrote. It seemed to many as if I was against the advent of the currency itself. No I was not and no I am still not.
Digital currency is the future of this world. Block Chain Technology is the answer to breaking the monopoly of Wall Street, investment banks, brokerage houses, stock exchanges, commodity exchanges, settlement processes, commercial banks, and transnational verification will wreak havoc on the old mindsets of “We own the world” arrogant mentality of Wall Street. Block chain will change the world. BitCoin will not. That was my argument. Digital currencies will change the way transactions are conducted, BitCoin will not. How Initial Public Offerings IPOs of companies are conducted will change from IPOs to ICOs, Initial Coin Offerings, BitCoin will not.
Looking at Bitcoin and saying that it will change the world is like saying Ford MotorCar Company will change the world after the car was invented. No. The advent of car would change the world and the means of transportation not just one company called Ford. The automotive “Technology” would change the world not just one company called Ford. That would have been the right statement to make in the late 1800s. And that was proven right.
Wall Street is a place where anything new related to even an idea of creating wealth threatens Wall Street if it does not come from Wall Street and is not under their control. And they know that BlockChain Technology will sooner or later take ALL the control away from their hands and give it in the hands of the public. The rightful owners of any financial transaction should only be public anyway. They were not and ARE NOT prepared to accept this reality but they have no choice. But until they accept the reality they will try their best to distort it, control it, manipulate it, kill its credibility in public eyes, they will do everything possible within their means to bring it under their regulation thus bringing it under their monopoly. But it is not going to happen.
Wall Street placed its first Checkmate on BitCoin last week by introducing BITCOIN OPTIONS or what is called in other words BitCoin Futures or BitCoin Derivatives on Chicago Board Of Options Exchange. I think it’s a silly move. And they did it a few days before the planned HARD FORKE in BitCoin when BitCoin was to split into two categories. Timing was perfect and havoc was created. BitCoin plunges 25% in three days. Once the options are in place the volatility on BitCoin will rise 3 to 5 times of what it is currently, in my view. And that’s exactly what they want.
They want to scare the general public so much with volatility that a common person does not have the guts or the nerves to invest in it and sit through the swings. And this will give the control of the “Trading” of BitCoins in their hands. It will not give them the control of the ledger system of BlockChain, it will not give them the creativity, it will not give them anything else except a PSEUDO CONTROL over the price movements temporarily.
And once this happens Wall Street will soon endorse ICOs and praise them. Start doing ICO launches within months. Every 5th or 6th Company will raise money through an ICO and at the end, Wall Street will have some say in the future of how money is raised. ICOs are the future and will make people billions of dollars in profits in the coming years, if not Trillions of dollars.
Mark my words and save this article. And while saving this article also save up some money so you can invest in some great ICOs coming up in the near future. And YES they are coming.
This is guest article by Mir Muhammad Ali Khan.
Mir Mohammad Alikhan is internationally renowned Investment Banker, Entrepreneur & Capital Markets Advisor. At the age of 29, he became the youngest Chairman and Founder of a Full service Investment Bank in America and the first Muslim to have owned an investment bank on Wall Street. He has had a successful career as Founder & Chairman The Financial Group, Inc., Federal Advisor to Govt. of Pakistan, a Member of New Jersey Governors Council, a Senior Advisor to New Jersey State Mayors and US State Senators. He introduced Islamic Banking Research into mainstream America by co-sponsoring and advising Harvard University to launch Harvard Islamic Finance and Information Program (HIFIP).
He also developed “THE WORD’S FIRST ISLAMIC BANKING BENCHMARK INDEX on WALL STREET Named:KMS-SAMI: (Socially Aware Muslim Index) Which Is Now A Functional Index Run By The Dow Jones Indices. He has also been featured in “Who’s Who of Top Executives in the World”. Featured in “Humans Of Pakistan” and in 2015 he became the first Pakistani ever to have a movie produced on his life through a first time co-production of Hollywood and Pakistani production house Sermad Films, The Producers of the movie “JALAIBEE”.WWW.MIRMAK.NET/Biography