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NYDIG expects many institutions to invest in BTC this week

Photo of: Joseph Stone
by Joseph Stone

The CEO of NYDIG assures it, in a week or so, large companies will adopt Bitcoin. A turning point in the adoption of BTC by institutions according to Robby Gutmann.

Is Bitcoin on the verge of another major episode in its democratization? That’s what Robby Gutmann, the head of the Bitcoin investment firm NYDIG, has said. The co-founder of asset manager Stone Ridge is confident.

On the podcast “On the Brink”, Gutmann points out that large financial companies will make announcements very soon. Which ones? Strategic partners of NYDIG, which in early March raised $200 million.

And some big names in finance are on board. They include Morgan Stanley, New York Life, MassMutual, Soros Fund Management, and FS Investments. NYDIG also counts fintechs among its partners, including Kasasa, Nymbys, and Moven

“I know that starting next week or so, you’re going to see an absolute drumbeat of nice, game-changing steps from some of these companies,” so says Robby Gutmann.

The executive does not specify which of these partners will actually make announcements. But those announcements are expected to result in new Bitcoin-based products and services coming to the financial market.

Bringing Bitcoin more broadly into the cash flow of companies, such as MicroStrategy and Tesla, could be one avenue. As Cointelegraph points out, NYDIG offers ‘Corporate Treasury’ among others.

Gutmann maintains the mystery. However, he says that these impending announcements “will gradually mark new milestones in Bitcoin adoption, the availability of Bitcoin, Bitcoin products and services in the existing traditional financial landscape. “

Its March capital raise was indeed not just about finding new shareholders. “The companies participating in this round are more than investors – they are partners,” its CEO said at the time.

“NYDIG will work with these companies on strategic initiatives related to Bitcoin, covering investment management, insurance, banking, clean energy and philanthropy,” the executive said.