“Corporations Aren’t Enough with Just Bitcoin and Ethereum”
David Duong, the manager of corporate research at Coinbase, perhaps the most important company that serves as a bridge in the crypto money investments of institutional companies in the USA, gave important details about the institutional investor profile coming to the stock market in a Youtube broadcast he participated.
Stating that his institutional customers are investing more and more in products other than Bitcoin and Ether, Duong said:
“I say this because I have seen it directly myself. 55% of Coinbase’s institutional investors only prefer Bitcoin and Ether, but the remaining part still has serious investments in altcoins… There is a great interest in the overall products of the ecosystem. We are currently in a weak period. Everyone is following the Fed, but it is worth remembering that this correlation is also weakening. Therefore, in the long run, there are conditions that we can talk about positively in every sense.”
Expressing that even JPMorgan, one of the largest banking institutions in the USA, is seriously interested in cryptocurrencies, Duong used the following statements:
“The industry is constantly moving forward. No return. Even JPMorgan doesn’t listen to its own CEO. No matter how much he says he’s against it, the bank does things differently. There are many crypto investments, from crypto infrastructure to other areas.”
Duong also stated that Coinbase discussed creating its own token and its own chain several times in 2018 and 2019, but the project was abandoned because it was thought that this would not be good for customers.
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