NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds

Citi Just Realized It Can’t Beat Bitcoin, Considers Joining Instead

Samuel Wan
Samuel Wan
4 years ago
3 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

U.S. financial services firm Citi considers offering Bitcoin services following a flood of interest from its clients. The firm is one of many banks that has warmed to cryptocurrency in recent times.

Although Citi has only signaled an interest at this time, a new custody initiative backed by Fidelity could soon see hundreds of U.S. banks offering Bitcoin services. And rather significantly from an adoption standpoint, not just for institutional players or high net worth individuals.

Citi Ready For A Bitcoin Explosion

Citi’s Global Head of Foreign Exchange, Itay Tuchman, said the company is thinking about entering the Bitcoin market. Despite the less than sound reputation of crypto, mounting interest in Bitcoin from asset managers and hedge funds has forced Citi into considering the move.

“We shouldn’t do anything that’s not safe and sound. We will jump in when we are confident that we can build something that benefits clients and that regulators can support.”

Tuchman said no decision had been made as to whether it would offer crypto services. However, under consideration were trading, custody, and financing options for clients.

“There are different options from our perspective and we are considering where we can best service clients. This is not going to be a prop-trading effort.”

Prop-trading, or proprietary trading, refers to a financial company trading its own funds for direct gain instead of earning a commission by trading on behalf of its clients.

During Q4 2020, a leaked Citi report showed a senior analyst giving a Bitcoin price prediction of $318k by December 2021. Global Head of CitiFX Technicals, Tom Fitzpatrick, wrote:

“The whole existence of bitcoin has been characterised by unthinkable rallies followed by painful corrections, the type of pattern that sustains a long term trend.” He asked, “Are we on the cusp of another such structural development?”

Banks Are Changing Their Tune

Lately, several large U.S. banking groups have announced they are working on introducing crypto services due to demand from clients. This includes BNY Mellon, Goldman Sachs, and Morgan Stanley.

But thanks to crypto custody firm NYDIG, customers of some U.S. banks will soon be able to buy, hold and sell Bitcoin via their existing accounts.

Head of Bank Solutions at NYDIG, Patrick Sells, said discussion with on-boarding big players is still ongoing at the moment. But hundreds of smaller banks have already enrolled in the program.

“What we’re doing is making it simple for everyday Americans and corporations to be able to buy bitcoin through their existing bank relationships. If I’m using my mobile application to do all of my banking, now I have the ability to buy, sell and hold bitcoin.”

NYDIG is a subsidiary of Stone Ridge asset managers, which has partnered with Fidelity National Information Services to offer the service.

Bitcoin daily chart

Source: BTCUSD on TradingView.com
Tweet123Share196ShareSend
Samuel Wan
Samuel Wan

Samuel Wan

Samuel Wan is passionate about different cultures and eating good food. He has years of experience working in business and finance — a burgeoning interest in Bitcoin and cryptocurrencies since 2017. UK based.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

chatgpt5-top-cryptos-four-40x-potential-coins-buy-the-dip-tw

ChatGPT-5精選最佳加密貨幣:四大具40倍潛力的加密貨幣趁低吸納

在市場震盪與資金回流的時刻,人工智慧成為新一代投資參考的重要來源。根據ChatGPT-5最新分析,四種加密貨幣被評估為年底前最具爆發力的潛在贏家,分別是Pudgy Penguins(PENGU)、Bo...

Mark Mak 1 hour ago
Solana

Solana Pauses To Recharge – Will $195 Support Hold The Line For A Comeback?

Solana is taking a breather after a strong rally, now testing the crucial $195 support zone. Traders are watching closely...

Godspower Owie 2 hours ago
Bitcoin Price Dips Deeper Into Red

Bitcoin Price Dips Deeper Into Red — Traders Eye Next Support Near $105,500

Bitcoin price is struggling to settle above $112,500 and $113,000. BTC is now moving lower and might start another decline...

Aayush Jindal 2 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Snorter Bot kriptovaliutos išankstinis pardavimas baigsis po 3 dienų - dar nevėlu prisijungti

Snorter Bot kriptovaliutos išankstinis pardavimas baigsis po 3 dienų – dar nevėlu prisijungti

Tomas Jankūnas 19 minutes ago
Crypto

October 10th Crypto Crash: Expert Foresees New Wave Of Lawsuits Against ‘Manipulators’

Ronaldo Marquez 20 minutes ago
bitcoin btc btcusd

Bitcoin Faces Bearish Pressure Near $111K Support After Failing to Extend All-Time Highs

James Halver 1 hour ago

Premium Sponsors

Press Releases

  • ドージコイン 今後の価格予測:強気ダイバージェンスが示す新たな上昇のチャンス

    ドージコイン...

    14 hours ago
  • リップル 今後の見通し:6,300万ドルの売却が発生も、賢い投資家はすでに買い増し開始

    リップル...

    14 hours ago
  • 仮想通貨プレセールで2,380万ドル超を調達した新プロジェクト、次に爆発的成長を遂げる可能性も

    ...

    14 hours ago
  • 仮想通貨おすすめ:市場暴落からの回復に苦戦する中で今注目すべき銘柄

    ...

    14 hours ago
  • イーロン・マスクがドージコインの“エネルギー”を強調、新しい仮想通貨がさらに注目を集める

    ...

    15 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.