That’s correct, you read that right. Buy. Stocks. With. Bitcoin. Buy stocks with Bitcoin. I am still shocked.
The cryptocurrency exchange WorldMarkets.io is offering its clients “Tokenized and Fractionalized Securities Smart Contracts” (TFSSC) – allowing its customers to use Bitcoin to buy the Standard and Poor’s top 100 stocks. This includes some of the worlds largest companies including Apple, Facebook, IBM, Amazon, Berkshire Hathaway, Alphabet (Google), JPMorgan Chase & Co, Netflix, Microsoft, etc.
In addition, from the sound of the TFSSC, people will be able to buy fractionalized stocks. Amazon and Alphabet (Google) and Berkshire Hathaway are all very expensive stocks that perhaps is out of financial reach for some people. But I would rather buy half an Amazon share than none at all! And that would empower people to start investing, even small sums for fractional stock ownership to take control of their financial future.
Unfortunately, the Tokenized and Fractionalized Securities Smart Contracts on WorldMarkets.io will NOT be available to residents of the US and Canada. Also, the TFSSC is not 24/7 like the cryptocurrency market. It allows you to trade after-hours but states that it will not be live trading and will have low liquidity.
While not everything we were hoping for, it certainly is a start. Once regulations come down the pipeline within the US and Canada I’m sure that the residents of those countries will have access to this market (or Bakkt and Gemini will deploy it).
We’ve been able to purchase Bitcoin (and other cryptocurrencies) with many different fiat pairings from USD, CAD, EUR, Pound, Yen, etc. We’ve even been able to buy cryptocurrency with other cryptocurrencies, it started out with only Bitcoin, but eventually, we were able to use ETH to by XRP or XRP to buy EOS or LTC to buy XRP, etc.
Now, this scope is widening. We are soon going to be able to buy stocks with Bitcoin. Then it will grow to include XRP, Ethereum… and then the floodgates open.
This is just the tip of the iceberg. As scalability improves with Bitcoin and Ethereum (XRP seems to not have scaling issues), we will see cryptocurrency used to purchase other, everyday items such as groceries, coffee, car insurance, books.
The way I see it, it will take at least a year of buying stocks with Bitcoin before the world develops and deploys the technology and scaling to use bitcoin and other cryptocurrencies for more purchases.
Below is a complete list of the stocks for trade with the TFSSC on WorldMarkets.io:
|American International Group Inc.||AIG/BTC|
|Bank of America Corp||BAC/BTC|
|The Bank of New York Mellon||BK/BTC|
|Capital One Financial Corp.||COF/BTC|
|Costco Wholesale Corp.||COST/BTC|
|The Walt Disney Company||DIS/BTC|
|Emerson Electric Co.||EMR/BTC|
|Ford Motor Company||F/BTC|
|Twenty-First Century Fox B||FOX/BTC|
|Twenty-First Century Fox A||FOXA/BTC|
|Alphabet Inc. C||GOOG/BTC|
|Alphabet Inc. A||GOOGL/BTC|
|Johnson & Johnson||JNJ/BTC|
|JPMorgan Chase & Co.||JPM/BTC|
|The Coca-Cola Company||KO/BTC|
|Eli Lilly and Company||LLY/BTC|
|Merck & Co.||MRK/BTC|
|Occidental Petroleum Corp.||OXY/BTC|
|Procter & Gamble Co||PG/BTC|
|Philip Morris International||PM/BTC|
|Simon Property Group, Inc.||SPG/BTC|
|Union Pacific Corporation||UNP/BTC|
|United Parcel Service||UPS/BTC|
|Walgreens Boots Alliance||WBA/BTC|
|Exxon Mobil Corp.||XOM/BTC|
I hope that you are as excited as I am about this news. Kudos to WorldMarkets.io for initiating this. Please leave a comment 😀!