NYDIG chief says institutions are only interested in Bitcoin

Investors focus on Bitcoin, says NYDIG CEO.

Large investors in the crypto market are focused exclusively on Bitcoin, said Robert Gutmann, chief executive of the cryptocurrency platform New York Digital Investment Group (NYDIG), in a comment to The Block.

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He said that the expansion of fiat money supply in the wake of the COVID-19 pandemic has made the first cryptocurrency more attractive.

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“All 100 of my recent conversations with investors considering crypto investments of $50 million have revolved around Bitcoin. None of them are looking at other digital assets for investment,” Gutmann added.

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The idea of open-source money could solve many of society’s fundamental problems, according to the platform’s chief executive.

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Earlier, NYDIG joined forces with fintech company Moven to facilitate banks’ work with Bitcoin.

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Earlier, Pantera Capital CEO Dan Morehead said that Bitcoin and Ethereum dominate the market, accounting for 86% of total market capitalization.

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