Brett Tejpaul, Head of Institutional Coverage, discussed the institutional demand for cryptocurrencies in an interview with Heidrick & Struggles International. The total number of crypto assets under the care of Coinbase is around 20 billion. Of which 14 billion. USD accumulated from April.
He said this is the best time to start crypto assets as Coinbase has confirmed the capital explosion among institutional investors. During the time of accession, the total assets under their care were about 6 billion. USD. Today they have $ 20 billion, three times what it was before. Tagomi, an execution platform, has literally changed its ability to serve institutional clients. These clients want to use intelligent job routing and algorithmic execution. So the trading volume shows that they are 20 times ahead of the beginning of 2020.
He went on to say that Coinbase had upgraded both banking and auditing partners. The company has already started counting the last incoming amount for BTC in billions. The company’s credibility has increased as JPM is a Chase banking partner and a Deloitte auditor. He also highlighted the uptrend in the crypto world, adding Paul Tudor Jones’ words who said he would put 2% of his income in BTC. He agreed that when they followed Paul’s words, they saw an incredible surge of institutions.
Paul’s decision was fruitful as it became a calling card for other macro companies. They think BTC is a store of value, it is also a tail risk hedge for the portfolio. Michael Sayalor is known as a BTC bull for having personally invested $ 240 million in bitcoins.
It is said that the Nasdaq-listed Microstrategy around 425 million. USD invested in BTC and has already made it a primary reserve asset. Bill Miller, a hedge fund manager, said the majority of banks will now have exposure to BTC. Another hedge fund manager, Stan Druckermiller, compared Bitcoin to gold and said it was the most attractive store of value.
Bitcoin, Coinbase, Ripple, cryptocurrency exchange, blockchain. com, Volatility
World News – US – $ 20 Billion Crypto under Coinbase’s Custody – Cryptocurrency News
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