Institutions Likely to Invest More in Bitcoin and Crypto Companies in 2022: Genesis's Noelle Acheson
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
While talking to cohost of CNBC's Squawk Box Joe Kernen, head of market insights at Genesis Global Trading, Noelle Acheson, shared her forecast regarding institutional investments into the crypto industry in the upcoming year of 2022.
It looks like she expects these investments to see a significant boost.
"Strong signs of institutional investments accelerating in 2022"
While discussing the prospects of the crypto space for the approaching year of 2022, veteran CNBC anchor Joe Kernen asked what areas in the crypto space it is worth watching closely. As an example, he named Bitcoin ETFs, institutional adoption of Bitcoin, regulatory adjustments and more.
Noelle Acheson stated that, this year, she expects the continuation of institutional growth in the crypto space to be as it has been already in this astonishing year. And in 2022, Acheson believes, it is only going to accelerate.
Yuri MolchanInvesting in risky and high-return crypto
When talking about "institutional growth," the expert of Genesis mentioned both direct token investment and investment in companies that work in the cryptocurrency space that build its infrastructure. She mentioned that 2021 has seen 40 companies turn into unicorns, presumably in the crypto space.
Aside from that, according to Acheson, financial institutions seem to be eager to diversify their crypto portfolio and go for other crypto tokens, aside from Bitcoin, even those considered risky but higher-return ones.
This is happening despite the fact that a year ago, Bitcoin was the only crypto that institutions were interested in. This year, they are investing in the altcoin trusts of Grayscale and buy such promising altcoins as Solana (SOL) and Terra (LUNA).
"The institutional growth over the last 12 months has been astonished. We're seeing strong signs of that accelerating over the next year," says @NoelleInMadrid on trends for #crypto and #bitcoin in 2022. pic.twitter.com/5GMR59S0ie
— Squawk Box (@SquawkCNBC) December 28, 2021
Barry Silbert's Foundry becomes biggest global BTC miner
Noelle Acheson focused on the migration of Bitcoin miners from China to other countries this year. A lot of them went to the USA, she stressed. This would give mining companies more advantages, according to Acheson, including access to renewable energy sources and to more financing from banks, institutional investors and even from pulling an IPO.
In related news, earlier today, the Twitter account of Chinese news outlet 8BTC news published data provided by BTC.com. It says that the Foundry mining company, belonging to Barry Silbert's Digital Currency Group, has become the largest Bitcoin mining pool globally that produced 29515.75 PH/s of the Bitcoin hashrate.
Related articles
Alex Dovbnya
Vladislav Sopov
Dan Burgin