RE: Institutions See Bitcoin as Alternative Hedge
It isn’t just Grayscale who is buying Bitcoin up, many institutions are hoarding Bitcoin and it is just the beginning
Crypto Funds in Demand, Institutions See Bitcoin as Alternative Hedge
Grayscale may not be alone in attracting institutional attention. Eric Ervin, the president and CEO of Blockforce Capital, an asset management firm that operates in the crypto space, told Cointelegraph: ‘We are seeing more institutional interest. I think this would be true regardless of the halving or the QE taking place, even more so given the unprecedented fiscal and monetary global stimulus.’
Lennard Neo, the head of research at Stack Funds, told Cointelegraph that institutional investors have been looking for alternative solutions not just to provide returns but also to protect their existing portfolio from further downside risks, explaining:
‘Similar to Grayscale, Stack has seen an uptick in investors’ interest — almost double that figures of pre-crash in March — in Bitcoin […] I would not say they are ‘gobbling up BTC’ blindly but cautiously seeking traditional structured solutions that they are familiar with before making an investment.’”
Yep. I’m willing to bet the average person would be shocked if it was revealed just who has bought and is holding Bitcoin no matter what their stance has been in the public eye.