Two investment strategists are predicting banks will look to Bitcoin and other cryptoassets as an avenue for staying relevant in the digital age.
During an interview with journalist Laura Shin on episode 197 of the “Unchained” podcast, CoinShares chief strategy officer Meltem Demirors said that she’s receiving inquiries from bank executives in regards to the use of cryptocurrency:
“We’ve been talking to banks and asset managers who are asking, ‘What do we do? Is Bitcoin maybe part of the answer to how we stay relevant, how we keep AUM and actually deliver a product that our clients will pay for?’”
Demirors went on to say that crypto adoption was “not rocket science,” and called it simple math that banks should offer crypto services to clients.
Lyn Alden, founder of Lyn Alden Investment Strategy said that she was fielding similar conversations with banks:
“The other day, I gave a presentation to a bank board of directors, and Bitcoin wasn’t one of my kind of presentation points. I was just talking about fiscal monetary policy, and then one of the first things they asked when I was done was what do I think about Bitcoin.”
According to Alden, several banking executives highlighted MicroStrategy’s half-billion-dollar investment into Bitcoin as a point of intrigue and were motivated by CEO Michael Saylor’s support for BTC.
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