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Chief Investment Officers (CIOs) seem to be currently purchasing and accumulating Bitcoin (BTC). This is according to Anthony Pompliano, the co-founder of Morgan Creek Digital. On Twitter, he wrote that there is a new trend and that CIOs are currently investing in the most popular cryptocurrency in the market.
CIOs Invest In Bitcoin
Anthony Pompliano is one of the most active figures in the cryptocurrency space and has helped many individuals and investors to purchase digital assets. As he wrote on Twitter on July 25, there is a new trend in the cryptocurrency market. CIOs, that are dealing with investment portfolios of different organizations around the world.
In this tweet, he mentioned that the firms are not invested in bitcoin yet but CIOs are currently looking at Bitcoin. He confirmed that he met with multiple CIOs at multi-billion dollar institutions that are placing their funds in Bitcoin.
NEW TREND: I’ve met with multiple CIOs at multi-billion dollar institutions lately.
The firms aren’t invested in Bitcoin yet, but the CIOs are.
That will quickly change 🔥
— Pomp 🌪 (@APompliano) July 24, 2019
In general, there have been many individuals and experts that claimed that several institutions are very interested in Bitcoin and digital assets. However, it may take some time before larger institutions enter the space. There are some firms that are currently trying to help larger institutions place their funds in the cryptocurrency space.
One of them is the Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE). The firm is working in order to be able to offer clients and larger investors the possibility to invest in Bitcoin futures contracts that are backed by the digital asset rather than by cash.
The Chicago Mercantile Exchange (CME), one of the first companies offering Bitcoin futures trading contracts, registered an important growth in the last few years. In May, the firm showed massive growth with 223 new trading accounts. As per the company, this was the best month ever registered for the crypto company.
Both, Binance and Coinbase, two of the largest exchanges in the world, are currently focusing on new institutional products. Binance started promoting its Over-the-Counter (OTC) trading desk a few weeks ago. This would help larger investors have access to the market without having a big impact on the price of the digital currency. These services are specifically designed for those investors that trade large amounts of funds. Bitcoin is not only included but users can also deal with other digital assets as well.
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