First Global Credit believes that with the increasing acceptability of Bitcoin, this virtual currency is sure to dominate the market during the upcoming days.
In a press release, the company has highlighted, that despite the interest of big banks in only the technology behind Bitcoin, blockchain, this digital currency has enough strength to stand on its own merit as the careful study of the market reveals.
In the support of its argument, the First Global Credit stated that Bitcoin/USD price has risen around 35% in October 2015.
First Global Credit also achieved a rare feat, as the trading volume on its platform showed massive record growth and the consumers traded over $1.4 million dollars’ worth of mainstream stocks and ETFs using the virtual currency Bitcoin as collateral margin.
This, the firm believes, represents an overwhelming increase of 48% over the previous month’s trading volume following a trend established earlier this year.
First Global Credit’s opinion holds much water as this company is steadily capturing the market and uses Bitcoin as an asset to get a return on the investment.
The company’s platform allows the use of Bitcoin as collateral margin to generate a return trading blue chip and high growth stocks, stock market indices and ETFs.
But the most interesting point raised by the company is that this acceptance of Bitcoin and the increase in its value denotes that the wider notion of more interest in developing the potential of private blockchains than the Bitcoin is devoid of much weight.
The company then gave the example of the R3 initiative and said that although it is being publicized as a way to decrease the consumer costs, yet it was a clear attempt by the banks to retain control over the world financial networks, but it also added, that the First Global Credit stands committed to provide cushion of support for the development of a free Bitcoin capital market independent of banks and government.
The CEO of First Global Credit Gavin Smith revealed the thought process of his company clearly at the European Banking Community at Barcelona’s Blockchain Week’s Trading Conference last month, when he said that “allowing the establishment of a capital market in Bitcoins will create the economic efficiencies supposedly being sought by the banks through the R3 initiative. This will allow people to transact business just as they do in the fiat economy.”
