Source: dailyhodl.com
Well-known Bitcoin (BTC) bull Anthony Pompliano says multiple sources claim Wall Street investors and the biggest financial institutions are planning to invest heavily in cryptocurrency.
Pompliano tells his 436,000 Youtube subscribers that financial institutions are already dedicating a lot of resources to the crypto space with an eye toward the future.
“Regardless of what happens to price in the short term, one thing is for certain. The big financial institutions, they’re here. They’re building teams internally, and they are going all-in on Bitcoin and crypto. That might not actually help the price in the short term. But that tells me over a long period of time, this industry is not going anywhere.”
Pompliano, the co-founder and partner at Morgan Creek Digital, the digital asset arm of investment firm Morgan Creek Capital, says a flood of investment from financial institutions could follow regulatory clarity. He points to a recent interview he had with David Mercer, CEO of LMAX Group, a global financial technology company.
“Even though we’re in this deep bear market, there are institutions that are chomping at the bit ready to get back into the game…. [Mercer] said that the six major banks, they’re ready to go as soon as they get a green light from the regulatory environment.”
In the interview, Mercer tells Pompliano that he could name “six of the largest banks in the world who if and when they get the green for go sign I think they can be active throughout all the markets in crypto within a month.”
Pompliano also says he had recent conversations with sources confirming similar institutional sentiment and interest in Bitcoin in particular.
“I personally, this week, talked to multiple organizations, some of the biggest asset managers in the world. They all have teams focused on Bitcoin and cryptocurrencies. They’re hiring. They’re building out those teams, and they’re trying to figure out what they’re going to do. Some of them want to build products. Other of them want to drive revenue through services related to the industry. And others just simply want to make it easier for investors to allocate to the space.”
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