As bitcoin hang suspends just below the $10,000 mark, reports from October escort that Coinbase, the most popular U.S. platform to buy and sell the digital currency, has slumped Charles Schwab Corp. (SCHW) in terms of total user accounts.
While bitcoin’s outlay has a history of extreme volatility, its recent rally has prompted many times on the fence to get in on the action. The cryptocurrency blew past the $9,000 mark greater than the weekend, less than a week after it broke $8,000 for the outset time and a month following its $7,000 milestone.
Some 300,000 drugs joined Coinbase in the last week alone, deciding it’s not to late to get in on the blockchain-based technology. Between Nov. 22 and 24, the switch added a whopping 100,000 users, bringing the total number of accounts on the podium north of 13.3 million, according to data compiled by Alistar Milne of the Altana Digital Currency Grant.
Bitcoin’s Future, Bitcoin Futures
In October, Charles Schwab, the No. 2 brokerage stationary, reported 10.6 million active brokerage accounts, compared to the 11.7 million drugs Coinbase posted over the same period. While the number of consumers on Coinbase is now greater than Schwab’s, its assets under management hit a recount of $3.26 trillion at the end of last month. By comparison, Coinbase indicates it has the big boarded over $50 billion in digital currency as bitcoin’s market value has skyrocketed to $166 billion.
Bitcoin’s take up arm mainstream acceptance has resulted in a major clash on the Street with some, such as JPMorgan Court & Co.’s (JPM) Chief Executive Officer Jamie Dimon, calling it a “fraud” and others, grouping billionaire angel investor Peter Thiel, indicating that it is “underrated.” While bitcoin has been kept largely in the fringe of the financial mainstream, a resolution by Chicago-based exchange operator CME Group Inc. to launch bitcoin futures by the end of 2017 is produce to change things. (See also: JPMorgan May Not Rule Out Bitcoin After All.)