Institutional Investment Purchase Demand Price↑
ARK Cashwood “will be assets similar to bonds”
[서울=뉴스핌] Reporter Ko In-won = On the 8th (local time), the bitcoin price surpassed 54,000 dollars and reached the highest level in two weeks. Ethereum, the second-largest market cap, also surged in price by more than 10% for two days.
Edward Moya, a senior analyst at Oanda, a US foreign exchange brokerage firm, explained that the interest of institutional investors is still high, and that a large inflow of money into the cryptocurrency market has raised the price of Bitcoin and Ethereum.
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| Bitcoin [사진= 로이터 뉴스핌] |
Controversy continues over claims that long-term investors such as insurance companies and corporate finance departments are expanding their exposure to bitcoin, but signs that institutional investors are joining the cryptocurrency market are being spotted everywhere.
The New York Digital Investment Group (NYDIG), which provides bitcoin trust services to institutional investors on the 8th, has invested 1 billion (about 1 billion won) in Bitcoin directly and indirectly by life, pension, property and non-life insurers through its platform. Trillion won) said that it reached the dollar.
In addition, NYDIG announced that it has raised about 200 million dollars (about 2278 billion won) through a funding round invested by big-scale investors such as Stoneridge Holdings Group, Morgan Stanley, New York Life, Mass Mutual, and Soros Fund Management.
In addition, Chinese beauty app developer Maytu announced on the 5th that it purchased bitcoin worth $17.9 million (about 20.2 billion won). ) Increasingly, companies entering the cryptocurrency market are revealing their plans to purchase a considerable amount of bitcoin.
According to major foreign media such as Bloomberg, Goldman Sachs, a global investment bank (IB), is preparing to resume its cryptocurrency trading desk in mid-March.
Goldman Sachs had previously set up a dedicated cryptocurrency desk in 2018. However, since cryptocurrencies such as bitcoin plunged, the desk was eliminated.
Ahead of the resumption of the desk, Goldman Sachs explained that the situation is different from 2017, when the cryptocurrency market bubbled and collapsed.
Meanwhile, Cash Wood of Arc Invest, a leading bitcoin bullish, drew attention in an interview with CNBC Broadcasting on the 8th, predicting that bitcoin will be accepted as a new asset class and that cryptocurrency will become an asset resembling a kind of bond.
Cashwood argued that Bitcoin is more widely accepted among investors, and that “in the future, virtual assets will serve as assets with fixed returns, just like bonds.”
As of 4:43 a.m. EST, according to CoinDesk, the price of bitcoin is trading at $54,190, up 8.95% from 24 hours ago.
At the same time, Ethereum is trading at $1836.93, up 8.83% from 24 hours ago.
Ethereum, the second-largest market cap, is also seeing a rally in the past few days with the prospect of a decrease in supply due to an upgrade scheduled for the summer.