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How to trade bitcoin without being one of the dumbest on Wall Street

Video Transcript: Let's talk bitcoin. It's sometimes confusing, often misunderstood and booming in value unlike anything in recent history. But even as the digital currency becomes both more accessible and more ubiquitous, big-name investors are writing it off as a fad. That is the dumbest thing to happen on Wall Street this week. I'm looking at you, Jamie Dimon. The JPMorgan Chase CEO announced on an earnings call that he's "not going to talk about bitcoin anymore." your arms and zipping your lips isn't going to change the fact that bitcoin will alter our finance lexicon for years to come, Mr. Dimon. He's not alone in that sentiment. But here's why the bitcoin naysayers are wrong. Goldman Sachs has reportedly considered how it might open a cryptocurrency trading desk. That's not something to take lightly. With one of the most respected banks on Wall Street considering a bitcoin desk, it's clear business is changing. Goldman is known for its deep pockets, so if the bank opens the desk, it could attract major funds and important eyes. But it does need regulation. Some think that regulating bitcoin will drag it down in value or even precipitate a crash. But I just don't think that's what will happen given historical precedence. Bitcoin surged above $5,000 per coin Thursday. With that, it looks like bitcoin will be part of our investing vernacular for the foreseeable future. Even if the price declines, the blockchain technology behind bitcoin will change everything. If you can't get on board investing, that's okay. But if you bury your head in the sand and ignore the revolution, you might be one of the dumbest on Wall Street. Watch More with TheStreet: Watch: Jim Cramer Reveals Why Netflix Is Crushing It Ex-Trainer for New York Yankees Gene Monahan Spoke to Us About His Career Could Your City Be Amazon's New Home Sweet Home? Memo to Slackers: Hurry Up and File Your 2016 Tax Return!
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