Post
Topic
Board Bitcoin Discussion
Re: Banks offering investing in Bitcoin
by
uneng
on 27/06/2023, 17:00:35 UTC
Since they couldn't suppress Bitcoin, some banks are now endorsing investing in it. I remember seeing that I could buy and sell Bitcoin (and other cryptocurrencies if I remember correctly) straight from my business banking app when I was working on financials in some company a while ago. Now I wonder, do they just want to enter the market and profit off of it or are there some other intentions? Since they offer an exchange for business users, could it be possible that the system could be used so the government could actually tax Bitcoin by taxing the company investing in it trough the bank account?
Taxes are a side effect of Bitcoin adoption. Banks don't start dealing with BTC to generate more tax income for the government. It's just part of any financial investment or business. The main goal of banks when offering BTC investment is profit.

Maybe I'm overthinking this, but when banks are involved with Bitcoin it always seems like an attempt of gaining some sort of control over it or push it to be more centralized in some way. And seeing more and more of them getting involved doesn't really comfort me.
Indeed they take advantage of centralization, as they work as a middleman between the investor and Bitcoin. So it's interesting for them. On the other hand, we could think investors who are investing through banks don't have enough knowledge or will to learn and invest by themselves. So banks are actually doing a favour to increase BTC adoption.

What do you guys think, should banks even be in 'the game'?
Of course they should. Bitcoin is open to everyone. It's part of being decentralized.