NYDIG CEO: "institutional investors are only interested in bitcoin"
According to NYDIG CEO Robert Gutmann, large institutional investors are only interested in bitcoin and are not considering altcoin investments.
"Of the hundreds of recent conversations with large investors seriously considering investing in cryptocurrencies, say $50 million or more, absolutely all were about investing in bitcoin. 0% of these institutions are interested in cryptocurrencies other than bitcoin," Gutmann said on The Scoop podcast.
The CEO of New York Digital Investment Group (NYDIG) confirms the popular view that institutional investors turned their attention to the cryptocurrency market after the introduction of massive economic support measures by various governments amid the COVID-19 pandemic.
That is, central banks in most states began printing large amounts of fiat money, and because of this, bitcoin's unique properties became even more attractive.
"The idea of open money is a very powerful idea that we think can really solve many of society's fundamental problems," Gutmann said.
Interestingly, Dan Morehead, director of Pantera Capital, earlier expressed a similar opinion. According to him, while ICOs and speculative tokens attracted attention in 2017, now there is a large-scale shift in investments in bitcoin and ether.
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