Wall Street insiders are claiming that its employees, traders and bankers could start receiving Bitcoins as bonuses. In addition to the big year-end payouts of hard cash and deferred stock awards.
Many companies are already considering adding Bitcoin bonus to their year-end stock and cash awards. These include banks and brokerages. Many risk-loving investors and tech-savvy pros will certainly love the idea because of the latest developments around Bitcoin cryptocurrency.
The development is pushed by rising value of Bitcoin but also mostly because Bitcoin futures are entering the market. CBOE launched Bitcoin futures product this Saturday December 10. One XBT is equal to one Bitcoin. CME is also launching the product next week December 17, with 5 Bitcoins trading under ticker symbol BTC.
People in the cryptocurrency scenes say and see the launching of these futures. As a way of endorsing Bitcoin and other cryptocurrencies.
New York-area commodities trader Dmitry Pichkar said,
“We saw a tremendous boost in the bitcoin price once the CME came out and said it was opening up the futures contract. It was really kind of endorsing bitcoin as a type of commodity that people. Including the institutions, will be able to participate in”.
Securities attorney at Gusrae Kaplan Nusbaum, Aaron Kaplan, said this is not a far fetched idea. He said that indeed, some venture funds are already accepting virtual tokens tied to ICOs due to rising value of cryptocurrencies.
The bonuses could help organizations recruit better talent according to Bob Graham. A digital currency expert at accounting and advisory firm Friedman.
“The bitcoin bonus could be one of the methodologies in recruiting better talent into your organization,” he said.
The firm is already receiving inquiries from hedge funds and other asset managers who want to understand cryptocurrencies better as they think about whether to enter the market or not.