Governments Are Exploring Whether To Buy Bitcoin, Says CEO of Crypto Giant NYDIG


The CEO of crypto-focused investment firm New York Digital Investment Group (NYDIG) says governments are now contemplating investing in Bitcoin (BTC).

Robert Gutmann confirms in an interview with Real Vision founder Raoul Pal that government-owned funds are inquiring about the possibility of buying the flagship cryptocurrency.

In response, Pal reveals that Temasek Holdings, an investment firm owned by the Singapore government which manages a net portfolio worth $306 billion, has long been buying virgin Bitcoin tokens that have never been used for any transaction.

Temesek

— Raoul Pal (@RaoulGMI) March 25, 2021

Gutmann explains what he believes makes the king coin appealing to investors.

“If you look at the world today on a forward basis, it is reasonable to be asking yourself as an investment committee or as an allocation committee [if] having all of [their] assets denominated in dollars against dollar-denominated liabilities is the right allocation mix.”

State-owned funds are showing interest in Bitcoin as Wall Street institutions jump into the crypto space. Goldman Sachs’ recent SEC filing reveals that the banking titan wishes to offer an investment product linked to the top crypto.

BNY Mellon, America’s oldest bank, is also working on a secure platform for transferring, holding, and issuing digital assets.

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