New report reveals: Financial institutions bet big on cryptocurrencies
Jun 26, 2019
Bitcoin is on a journey upwards that has not been seen for a long time, and today the world’s biggest cryptocurrency approached $13,000.
New numbers show what may be a clue to what led to the increase.
New report reveals
It is the company Genesis Capital, which lends cryptocurrencies to large institutional clients such as banks, that in a new report shows that financial institutions trade with cryptocurrencies two to three times as much as they did a year ago.
The fact that banks and other big players in the financial market are dealing a lot with cryptocurrencies shows increased confidence in the market, something Jehan Chu, co-founder of Kinetic Capital raised in an interview with CNBC earlier this week. This can, in turn, lead to even higher prices on cryptocurrencies, Cointelegraph reports.