State investment funds are interested in buying bitcoin, says Robert Gutmann, CEO of New York Digital Investment Group (NYDIG). According to Gutmann, they are negotiating with such funds about possible investments in cryptocurrency.
Gutmann made his announcement during a podcast with the founder of Real Vision, Raul Pal. The latter confirmed this information, saying that the Singapore Sovereign Wealth Fund Temasek is indeed investing in bitcoin. According to him, Temasek, which has $ 306 billion in assets under management, buys new bitcoins from miners.
Drawing parallels between recent investments in publicly traded companies, including MicroStrategy and Tesla, and government funds, Gutmann noted that such players are seeking to hedge dollar-denominated liabilities and are re-evaluating portfolios.
“Looking at today’s world from a future perspective, investment committees reasonably question whether it is right to keep all assets denominated in dollars with dollar-denominated liabilities,” he added.
NYDIG is part of the managing director of Stone Ridge Asset Management with $ 10 billion in assets. Earlier, Gutmann announced that by the end of this year he expects his clients to concentrate more than $ 25 billion in bitcoin.
“I am confident that we will have more than $ 25 billion in bitcoin by the end of 2021. It’s in the order book. I don’t guess, I see what’s happening, ”he said.
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