On Saturday, February 6, Bitcoin (BTC) price once again surged above $40,000 levels in a strong move northwards dominated by whale purchases. As Bitcoin (BTC) continues to gain strength over institutional players, NYDIG Chief Ross Stevens makes a bold prediction.
Just like Grayscale, the New York Digital Investment Group (NYDIG) is a digital asset manager helping institutions gain exposure to Bitcoin and crypto. During his recent interview with Michael Saylor at the MicroStrategy World 2021 Conference, Stevens made a prediction that within a year, Americans will start receiving their income annuity and salaries in BTC.
Besides, Stevens is very much confident in institutional inflows coming to Bitcoin. He adds that a year ago NYDIG had 25 institutional clients. Today, they have over 280 institutional clients with exposure to Bitcoin.
Stevens is pretty much confident that the firm’s Bitcoin holdings will 4x from here. Currently, NYDIG has $6 billion in Bitcoin assets under management and this is likely to go to $25 billion by the end of 2021. Interestingly, Stevens says that NYDIG has zero clients so far walking back since their initial investment to date. He added:
“I believe that the most important decision that CEOs will make in the next ten years will be deciding to allocate to bitcoin. My partners bought more bitcoin in 2020 than in 2013-2019 combined. As our fiat businesses continue to inflate and accelerate, I expect we will buy more bitcoin in the next two years. We are capital allocators. If we didn’t believe we would make money off this, we wouldn’t invest a penny.”
Business intelligence firm MicroStrategy recently conducted its World 2021 conference sharing a playbook for corporates to put their extra cash in Bitcoin. MicroStrategy CEO Michael Saylor called the event a great success with over 22K registrants.
MicroStrategy already holds over 71,000 Bitcoin worth a massive $2.5 billion. The great thing is Michael Saylor is sharing all the event sessions and his Bitcoin Corporate Playbook for free.
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