asset manager, institutional investors, microstrategy, nydig, nydig bitcoin, nydig crypto, Stone Ridge, stone ridge asset management, stone ridge bitcoin, stone ridge crypto

The founder of Stone Ridge Asset Management and the New York Digital Investment Group (NYDIG) sees a “wall of money†coming into bitcoin based on his firm’s order book. The executive believes that institutions are just getting started and we will see an explosion of bitcoin-focused traditional financial products within a year.

NYDIG Bullish on Bitcoin

Stone Ridge Asset Management and NYDIG founder Ross Stevens shared his insight on institutional adoption of bitcoin last week in an interview with Microstrategy CEO Michael Saylor. Stevens founded Stone Ridge in 2012 and NYDIG in 2017, where he now serves as its executive chairman. Today, “NYDIG is a full service vertically integrated bitcoin-only financial services firm,†he described.

“A year ago, we had 25 institutional clients,†he told Saylor. “Today, we have 280 institutional clients. We’ve got a pipeline in the onboarding process of 96.†Stevens added that at the current capacity, his company can onboard 75 institutions a month. He further revealed:

Stevens emphasized: “I’ve just got this order book. I’m not guessing. I see what’s happening.â€

As for the types of institutions that are investing in bitcoin, Stevens said: “All kinds of institutions are adopting bitcoin: public companies, private companies, hedge funds, private equity funds, credit funds. Even investors who if you asked me a year ago would they come in I would say absolutely not.â€

Emphasizing, “I know for sure because I’m not guessing. They’re just getting started and these institutions want to do more than just own bitcoin. That’s table stakes,†he elaborated:

He continued: “Another interesting phenomenon we are seeing in our book is exactly zero clients have walked back the allocation. That may not be true for other firms but that’s true for us. So, once people get off zero, they either stand pat or they increase.†Furthermore, he opined that right now:

What do you think about the NYDIG founder’s expectation about bitcoin? Let us know in the comments section below.

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