Institutional Investors Turn on Cryptocurrencies
During the past months, it became obvious that more and more institutional investors decide to include cryptocurrencies in their portfolios, attracted from their returns and deflationary nature.
In Deutsche Bank’s report, investors seem to replace gold with cryptocurrencies in their portfolios. Their use will be mostly to hedge currency risk (especially against US Dollar) and the inflation trends that are expected to appear after government stimulus packages.
In similar report, BlackRock, the biggest asset management firm in the world, highlights the surge of demand for cryptocurrencies from the largest asset managers worldwide.
Finally, Coinbase announced that institutional investors have placed over $20 million under its management, where $14 of them have entered its services since April, showing that institutional investors are ready to play the game of cryptocurrencies.