While speaking with his colleague from CNBC, Joe Kernen, Noelle Acheson, Head of Market Insights at Genesis Global Trading, shared her forecast for institutional investing in the industry.
It looks like she is hoping these investments will get a significant boost.
During the discussion on the prospects of the crypto space for the coming year 2022, veteran CNBC moderator Joe Kernen asked which sectors in the crypto space are worth watching. For example, he names bitcoin ETFs, bitcoin adoption institutions, regulation, and more.
Noelle Acheson has stated that this year she expects institutional growth in the crypto space to continue as it did this incredible year. And in 2022, Acheson believes, it will only accelerate.
When speaking of “institutional growth”, the Genesis expert was referring to both direct token investments and investments in companies that are active in the crypto space and are building their infrastructure. She mentioned that 40 companies have turned into unicorns in 2021, presumably in the crypto space.
Also, according to Acheson, financial institutions appear to be eager to diversify their crypto portfolios and look for other crypto tokens alongside Bitcoin, even those that are considered risky but offer higher returns.
This happens despite the fact that a year ago Bitcoin was the only cryptocurrency that institutions became interested in. This year they are investing in grayscale altcoin trusts and buying promising altcoins like Solana (SOL) and Terra (LUNA).
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Noelle Acheson focuses on Migration of Bitcoin miners from China this year to other countries. Many of them went to the United States, she stressed. According to Acheson, this will give miners other benefits, including the ability to access renewable energy sources and get more funding from banks, institutional investors and even from going public.
In related news, the Chinese news agency 8BTC’s Twitter account released data from BTC.com today. It is said that the mining company Foundry, which is part of Barry Silbert’s Digital Currency Group, is too largest Bitcoin mining pool in the world 29515.75 PH / s of Bitcoin hashes generated.
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