NYDIG chief: sovereign funds eye bitcoin purchases

The cryptocurrency platform New York Digital Investment Group (NYDIG) is in talks with sovereign wealth funds about possible bitcoin investments. This was stated by NYDIG CEO Robert Gutmann on the Real Vision podcast.

Drawing parallels between the appeal of bitcoin to public firms and sovereign wealth funds, Gutmann noted institutional investors’ desire to hedge their dollar-denominated obligations.

As of the time of writing, podcast host Raoul Pal had deleted the tweet linking to the podcast. However, in the comments he wrote that the Singaporean investment holding Temasek bought bitcoin from miners.

In January, Gutmann said that investors were interested only in bitcoin. None of Gutmann’s interlocutors, considering cryptocurrency investments starting at $50 million, paid attention to altcoins.

In August 2020, the Nasdaq-listed analytics software provider MicroStrategy became the first publicly traded company to allocate a portion of its capital to bitcoin.

In September 2020, Norway’s sovereign wealth fund with assets of $1 trillion became the indirect owner of 577.6 BTC.

In February 2021, Singapore’s sovereign wealth fund led the investment round for Anchorage, a cryptocurrency custodian, in an $80 million round.

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