Institutional investors’ appetite for crypto grows

The exchange currently holds $20 billion of crypto with $14 billion of those assets having been accumulated since April.

What this could mean is a shift from traditional financial institutions towards cryptocurrencies, with the majority of banks now eyeing crypto with a mix of expectation and as a smart investment strategy.

Coinbase Head of Institutional Coverage Brett Tejpaul was cheerful in a recent interview with Heidrick & Struggles International arguing that interest in cryptocurrencies, and Bitcoin specifically, has been steadily increasing.

Tejpaul joined Coinbase only six months ago in charge of institutional adoption. It’s an auspicious moment for him to apply his expertise in financial markets – he spent 17 years of his 25 career at JP Morgan – to help spearhead the exchange's new growth vertical.

“We have had an explosion of activity,” Tejpaul said, adding that it was a phenomenal time to be in crypto. He noted that new capital has been allocated in Bitcoin by the billions and this is a trend that would most likely remain unchanged for months to come.

Investors have also been bullish about the prospects of Bitcoin shaping the future, with both Bill Miller and Stan Druckenmiller voicing support and calling Bitcoin an attractive store of value.

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Written by Alex

Reporter

Alex is a well-rounded crypto writer who focuses on general market and legal developments. His main interest lies in how crypto gaming can become a more permanent part of the gaming landscape and how blockchain holds benefits to players they are not even aware of.

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