Another great infographic from howmuch.net comparing the market cap of Banks to Cryptocurrencies.
Banks keep trying to disassociate themselves from crypto, banning and locking accounts left and right. They often use the excuse of money laundering and anonymity. A little odd considering they constantly have to settle money laundering cases themselves (cough*HSBC). Fiat continues to be the number one choice for criminals around the world.
The real reason they continue to act defensively might be the fact that cryptocurrencies have the potential to disrupt ALL of their existing businesses. Millenials hate banks, they grew up in the digital age and digital assets come naturally to them…they understand them. Looking at this comparison in market cap, it’s no wonder they keep shutting down bank accounts associated with crypto.
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