The world largest cryptocurrency, Bitcoin (BTC), is set to go through a massive transformation that will birth incredible adoption for the coin, as two international electronic trading platforms will be giving investors and users more confidence in utilizing the digital currency.
First, it was the news that TD Ameritrade, a world renowned trading platform for stocks, futures contracts amongst others, is testing Bitcoin and Litecoin on its brokerage platform for trade.
The news initially surfaced that Bitcoin is now tradable on Nasdaq stock exchange, with confirmation that a trader bought one BTC through a TD Ameritrade account. However, the same trader after contacting TD Ameritrade Support later affirmed via twitter that it was rather a testing.
UPDATE: According to TDAmeritrade support – it's not a real trade in my account – it appears they are testing only using their Paper Trading platform. Support said "I'm not able to speak on it" -They did not know what CXERX is. Strange… But something is going on for sure! pic.twitter.com/gUxtHX0TNg
— Cryptopolis (@cryptopolis_x) April 22, 2019
Furthermore, Charlie Lee testified that TD Ameritrade has begun testing Bitcoin and Litecoin trading on its brokerage platform.
E*Trade Warming up for Bitcoin (BTC)
The TD Ameritrade’s news was succeeded by a mega mainstream adoption update for the cryptocurrency. Nathaniel Popper, a New York Times reporter on April 26, disclosed that E*Trade Financial Corp. is planning to offer a crypto (Bitcoin and Ethereum) trading option for users on its platform.
In the wake of TD Ameritrade quietly opening Bitcoin trading for some of its customers, I was just told that eTrade is preparing to begin offering both Bitcoin and Ether trading to its 5 million or so customers and is just finalizing a third party to actually hold the coins.
— Nathaniel Popper (@nathanielpopper) April 26, 2019
With 5 million user base, E*Trade stands as one of largest securities brokerages to permit crypto trading. It will compete with the likes of Coinbase and Robinhood.
16 Million TD Ameritrade And Etrade’s Users To Make Bitcoin Insufficient
In awake of the success wallowing news which many feel it’s one of the cardinal developments Bitcoin needs to triumph in the finance industry, Ran NeuNer, the CEO of Onchain Capital, raised a topic asking users to phantom what would be the effect of the 11m clients from TD Ameritrade and the 5m users from ETrade.
TD Ameritrade have 11m clients , ETrade have 5m+ clients. Both will be offering BTC trading to their clients soon. Do the maths…
— Ran NeuNer (@cryptomanran) April 28, 2019
NeuNer, who is also a blockchain optimist and the founder of a leading advertising agency in South Africa, The Creative Counsel, again gave the response. NeuNer said the 16 million clients from the two companies will likely make BTC run out of supply.
“Here is some perspective, the below 2 have 16m clients combined, if each just bought 1 BTC-they would need more BTC than are currently available.(Ex the ones that have lost keys etc) These are the first 2 mainstream brokers-once they come online others globally will have to follow,” NeuNer said.
Bitcoin (BTC) Scarcity Will Bring Price Hike
The much awaited bull run seems to be getting more and more testimonies. While analyst remains ardent on their assertion that Bitcoin is yet to ride the bull, the latest proclamation that Bitcoin will likely run out of supply is another reason to hope for a market upward rally since lower supply below demands create price hike.