Not true. Actually only Bitcoin and 3 other cryptocurrencies meet even the minimum characteristics:
Proof of Work Consensus
Fixed Supply
Liquidity > $100 million/24 hours
Those are BTC, BCH, LTC and ETC. And of these, BTC has liquidity of over $14 billion per day, with its nearest competitor (BCH) all the way down at only $270 million.
All the other coins either have no significant trading market, or are crippled in some way, like having unlimited supply or using Proof of Stake.
This isn't a choice by the bankers. They are just catering to the only market that has a large enough market cap to accept the cash inflows from institutional investors.
Not true. Actually only Bitcoin and 3 other cryptocurrencies meet even the minimum characteristics:
Those are BTC, BCH, LTC and ETC. And of these, BTC has liquidity of over $14 billion per day, with its nearest competitor (BCH) all the way down at only $270 million.
All the other coins either have no significant trading market, or are crippled in some way, like having unlimited supply or using Proof of Stake.
This isn't a choice by the bankers. They are just catering to the only market that has a large enough market cap to accept the cash inflows from institutional investors.