Robert Gutmann, CEO of cryptocurrency investment firm New York Digital Investment Group (NYDIG), said national governments are now considering investing in Bitcoin (BTC).
Robert Gutmann: Governments think about investing in BTC
Robert Gutmann in an interview with Real Vision founder Raoul Palem, he confirmedthat government funds are asking his company about the possibility of buying BTC.
This is the CEO of NYDIG confirming, for the first time in history, government funds are inquiring about buying #bitcoin pic.twitter.com/xQaR660og6
– Documenting Bitcoin 📄 (@DocumentingBTC) March 25, 2021
In response, Pal revealed that Temasek Holdings, a Singapore government-owned investment firm that manages a net portfolio of $ 306 billion, has long been buying Bitcoin. Interestingly, it only buys cryptocurrencies that have never been used in any transaction.
Temesek
– Raoul Pal (@RaoulGMI) March 25, 2021
Why is it worth investing in BTC today?
Gutmann also explained why he thinks cryptocurrencies are becoming attractive in the eyes of large investors. He suggested that today it makes sense to simply diversify your investments and not just focus on the dollar, for example.
If the CEO of NYDIG is telling the truth, state actions are in line with a broader trend. State funds show interest in Bitcoin at a time when Wall Street institutions are already investing heavily in cryptocurrencies. For example, a recent Goldman Sachs filing with the SEC reveals that this powerful US bank is looking to market its BTC-linked investment product. We wrote about it here.
It is worth noting, however, that other entities have been trying to create a bitcoin ETF for many years. The SEC had received several other offers before, including from Gemini founders Cameron and Tyler Winklevoss. Unfortunately, the brothers did not manage to start with the fund.
And BNY Mellon, America’s oldest bank, is also working on a secure platform to transfer, store and spend digital assets.
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