NYDIG Expects to Hold $25 billion in Bitcoin for Institutional Clients by Year-End.

Photo: Coindesk

CEO Stevens said NYDIG's institutional order books are looking bullish for the year.

Stone Ridge Asset Management’s bitcoin spinoff firm – NYDIG – already has enough institutional buy orders lined up to push its bitcoin (BTC) holdings over $25 billion by the end of 2021, according to CEO Ross Stevens.

• "I am confident we'll have over $25 billion of bitcoin [by EOY 2021]. I just got this order book. I'm not guessing, I see what's happening," Stevens told MicroStrategy CEO Michael Saylor Tuesday.
• NYDIG currently manages $6 billion in bitcoin for its 280 institutional clients, with at least 96 more waiting in the wings, Stevens said. He said NYDIG can onboard at least 75 a month.
• "I didn't realize there were so many institutions moving so aggressively into this space," Saylor said. He has personally shepherded over $1 billion in bitcoin buys for MicroStrategy this year.
• Stevens delivered the first bitcoin-focused talk of MicroStrategy's annual World Now Conference.

Reprinted from Coindesk, the copyright all reserved by the original author.