| 🍂 🍂 November 17, 2017 🍂 🍂 | | "If everything seems under control, you're not going fast enough."
― Mario Andretti | | THE FEATURE Coinbase Courts Hedge Funds With Institutional Storage Service
Confounding as bitcoin's new peaks may be seem to some, they've awakened something we likely haven't yet seen in blockchains or cryptocurrency: big money.
That's not to undercut the investments so far. Bitcoin's $150 billion market is staggering, as is the additional $50 billion in alternative assets. Yet, it's becoming increasingly clear this value has largely been captured and created by early adopters.
Now, that narrative is changing.
If one needed any stronger indication, Coinbase, the largest U.S. exchange and its biggest venture-backed company, quietly rolled out a new storage service yesterday. But it's perhaps the cost model that's most eye-grabbing.
After years of giving away product and earning small margins on retail investors, Coinbase's new service requires $10 million in deposits, with a $100,000 set-up fee. Whether it will attract clientele remains to be seen, of course, but it's the manner and speed of the announcement that's perhaps most notable.
Always known for careful product cycles, Coinbase appears to be reacting to market movements on the announcement.
The lesson? When the cautious start running, it's time for speed. | | | ⭐ COINDESK SPONSOR ⭐
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