Bitcoin btc
$ usd

Pompliano: Wall Street Going All-In on Crypto

2 mins
Updated by Dani Polo
Join our Trading Community on Telegram
Anthony Pompliano, founder and partner at Morgan Creek Capital Management’s blockchain arm, believes that financial institutions on Wall Street are rushing to invest in cryptocurrency right now.
According to Pompliano, most institutions are intentionally choosing not to disclose their involvement with digital currencies. In a tweet addressed to his 185,000 followers, he stated: In April 2018, Pompliano co-founded Morgan Creek Digital Assets, a multi-strategy investment firm specializing in distributed ledger technology and virtual currencies. He also authors a daily email newsletter, in which he talks about developments in the blockchain and digital currency ecosystems. As a result, Pompliano is uniquely positioned to comment on what institutional investors are and aren’t doing with respect to the cryptocurrency industry. crypto business

Institutional Interest Ramping Up?

Notably, Pompliano is not the only one claiming that institutional interest in the digital currency market is starting to gain momentum. In spite of the market’s exceptionally poor performance throughout 2018, crypto hedge funds, security token offerings (STOs) and over the counter (OTC) sales have flourished. Since these investments do not represent a spike in traditional trading volume charts, the activity has mostly gone unnoticed. Major cryptocurrency exchanges have also been preparing and bracing themselves for increased demand from institutional investors. Coinbase, for instance, managed to raise a whopping $300 million in its Series E venture capital funding round last October. The company said that it would use the cash infusion to attract accredited US investors more aggressively. In May 2018, it estimated that institutions could bring in as much as $10 billion to the cryptocurrency industry. Bakkt

Bakkt & The Road Ahead

Meanwhile, Intercontinental Exchange (ICE) is expected to launch its digital currency platform, dubbed Bakkt, sometime in 2019. Founded by the owners of the New York Stock Exchange, ICE also aims to attract major institutional players to the blockchain and cryptocurrency markets. When it launches later this year, Bakkt is expected to be the biggest Bitcoin physical futures exchange and clearing exchange in the US. So far, a few merchants, including big-name companies such as Starbucks, have already pledged to work with Bakkt. Do you agree with Pompliano’s belief that large amounts of institutional money flow into the cryptocurrency market every day? Let us know your thoughts in the comments below! 


All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

Rahul Nambiampurath
Rahul Nambiampurath's cryptocurrency journey first began in 2014 when he stumbled upon Satoshi's Bitcoin whitepaper. With a bachelor's degree in Commerce and an MBA in Finance...