/biz/ - Business & Finance

[Anonymous No.26132245]

There are two key takeaways from this article. Can you spot them both? Nobody managed to do it last time, they just made butthurt posts about how their shitcoins were about to take off Real Soon.

https://www.theblockcrypto.com/linked/91500/big-institutions-are-only-interested-in-bitcoin-says-nydig-ceo

A crypto rally has been in full swing, but the biggest investors looking at the market are only interested in bitcoin, according to one industry CEO.

In the latest episode of The Scoop, NYDIG chief executive Robert Gutmann said that most of the serious investors he's speaking with are only interested in the largest crypto by market capitalization.

"100 out of 100 of the last conversations I've had with investors seriously looking to allocate, let's say over 50 million dollars, 100% of those conversations have been about Bitcoin and 0% of them have been about any other crypto asset," he said.

In Gutmann's view, the interest in bitcoin is tied to the macro backdrop of the previous year, when central banks globally took an aggressive monetary policy approach to address the Covid-19 crisis. That's revealed some of the unique characteristics of bitcoin as an alternative reserve asset for firms.

"The idea of an open source money -- that's a really powerful idea and solves, in our opinion, a fundamental societal challenge," he said. Guttman's firm NYDIG offers custodial and trading services to an array of financial firms, including insurance giant Mass Mutual.

Indeed, Gutmann's perspective is echoed by bitcoin investor Dan Morehead who said this rally is much more focused on Bitcoin and Ethereum.

"There has been a massive shift from highly speculative, mainly non-functioning tokens having roughly half of the total market cap in 2017 to today when the market cap is mainly in the two proven, functioning chains: bitcoin and ethereum," Morehead wrote. "Those two chains have 86% of the value. The other 5,000 chains have 14%.

https://playlist.megaphone.fm?e=BLOCK2054701271

[Anonymous No.26132275]

>>26132245
I would

[Anonymous No.26132299]

>>26132245
weird fud

[Anonymous No.26132313]

>>26132245
Tl;dr you faggot? I am not reading your blog

[Anonymous No.26132407]

>>26132245
Institutions buy bitcoin, bitcoin whales cash in and buy alts. There.

[Anonymous No.26132571]

>>26132245
My takeaway is that /biz/ is literally 10 years ahead of the big money institutions. /g/ was talking about open source money back in 2009 and 2010. Now we're way past that, with self-executing smart contracts, oracles, and defi. So basically, LINK has another 7 years max to get big institution attention, PNK has 8 or 9 years, and Ethereum and competitors should get attention in what, a couple more years?

Remember, the people at these big money institutions aren't quants and cutthroat financiers. They're mainly idiot sheep following the herd so that when they inevitably lose money, they can bleat about how they're within a couple points of everyone else so they shouldn't be fired or lose their bonus. Read Fooled By Randomness.

[Anonymous No.26133157]

>>26132299
whoever made this has low spatial IQ (like most europoids)

[Anonymous No.26133301]

>>26132275

You would what?

[Anonymous No.26133401]

>>26132245
all i got is "bitcoin is king"

[Anonymous No.26133451]

>>26132407
This

[Anonymous No.26133700]

>>26132245

Bitcoin and Ethereum.

[Anonymous No.26133836]

>>26133401
unless you're talking of the double of
"all we're buying is bitcoin"
which also means
"we're not buying your other shitcoins"

[Anonymous No.26134021]

>>26132571
>Remember, the people at these big money institutions aren't quants and cutthroat financiers. They're mainly idiot sheep following the herd so that when they inevitably lose money, they can bleat about how they're within a couple points of everyone else so they shouldn't be fired or lose their bonus. Read Fooled By Randomness.
could you elaborate on this