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?
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.
What do you guys think, should banks even be in 'the game'?
because the main goal of banks is to pursue profits, it is possible that they have other intentions behind bitcoin, currently the growth of bitcoin users every day is quite large besides user growth, the velocity of money in bitcoin trading is also very large every day and banks must see this phenomenon as something they can't miss, instead of fighting something that can't be stopped, why not use it to attract support to attract more profits (that's their plan imo), in the future we don't know what will happen, currently many banks reserve gold in their vaults, maybe later they will reserve bitcoin in their private wallets.