BitMEX CEO notes sustained institutional interest in cryptocurrencies

At the Token2049 conference, BitMEX chief executive Alexander Heptner told Cointelegraph that he does not see a decline in institutional interest in the digital asset industry.

In his words, large investors are choosing innovative sectors precisely during bear markets. Bull markets drive them to make hasty decisions, which is challenging for large companies.

Heptner also noted institutional interest in Ethereum after the network’s transition to the Proof-of-Stake consensus algorithm as part of the The Merge upgrade. The second-largest cryptocurrency by market capitalization now complies with the principles of EGS, he said.

The BitMEX chief executive forecast Ethereum’s price rising to $3000 by the end of 2022. As of writing, the asset trades around $1300, according to CoinGecko.

Earlier in September, State Street analysts found that institutional investors maintained interest in blockchain and cryptocurrencies despite the bear market.

Follow ForkLog’s Bitcoin news in our Telegram — news on cryptocurrencies, prices and analytics.