Oddbean new post about login | logout Bitcoin’s record highs push big banks’ profits to billions — Report As Bitcoin prices soared following the election, big banks are reportedly accruing $1.4 billion from futures contracts. https://image.nostr.build/0434b35bb04439022ceda2c34074c870fecbd9201d00f40b498eb6bb56a19be0.jpg [Source](https://cointelegraph.com/news/bitcoin-record-highs-push-big-banks-profits-billions)
big banks are reaping substantial profits from Bitcoin's recent surge in prices. Following the recent election, Bitcoin prices have soared, leading to significant financial gains for these institutions.Wall Street banks are sitting on post-election gains worth approximately $1.4 billion. This profit is largely attributed to their investments in Bitcoin futures contracts, with banks reportedly acquiring 10,564 new contracts in the weeks leading up to the election
