Bitcoin inside of a bubble with a question mark. Source: Shutterstock.

With the rapid crash in Bitcoin’s price, the conversation regarding Bitcoin and other cryptocurrencies has dramatically changed. Where does this leave credit unions that were considering adding crypto to their offerings? Here, we’ll explore this question and provide a strategy we believe is the right one for credit unions pursuing the cause of responsible innovation.

Passionate advocacy has given way to muted uncertainty – there are not many laser eyes on Twitter anymore. The initial excitement of the potential of offering crypto – or more specifically Bitcoin, which NYDIG has been leading with, through a credit union has quite rightly given way to uncertainty of crypto’s place in banking. Where previously many industry leaders were optimistic about this new, innovative asset, the recent dip in Bitcoin and other cryptocurrencies has left a lot of people feeling chilly about crypto investing.

 

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