The CEO of the investment firm New York Digital Investment Group (NYDIG) states that governments are now considering investing in bitcoin.
Robert Gutmann confirms in an interview with Real Vision founder Raoul Pal that state funds are exploring the possibility of buying bitcoin.
In response, Pal reveals that Temasek Holdings, a Singapore government-owned investment company that manages a net worth of $306 billion, has long been buying “pure” bitcoin that has never been used in any transaction.
Gutmann explains what he thinks makes bitcoin attractive to investors:
“If you look at the world today, it makes sense to ask yourself as an investment committee or a distribution committee [if] you have all your assets in dollars versus liabilities in dollars, what is the right distribution mix.”
Government funds are showing interest in bitcoin as major Wall Street institutions enter the cryptocurrency space. Goldman Sachs’ recent filing with the SEC reveals that the banking giant wants to offer its customers an investment product linked to the top crypto.
BNY Mellon, America’s oldest bank, also operates a secure platform for transferring, owning and issuing digital data.