Institutions are either Bitcoin’s savior or ultimate destroyer, depending on your ideological point of view. Their arrival has been talked about since the 2017 bull run, with the Galaxy Investment Partners founder Mike Novogratz famously stating in November last year that “the herd is coming”. After a year of overoptimism in Bitcoin’s valuation, Novogratz is back discussing the cryptocurrency’s future, this time turning back to the topic of institutional adoption. This time however he might be on the right track, given that his statements about imminent adoption by billion-dollar funds come at the same time as reports that Forbes has begun sending out a premium crypto newsletter to those very same institutions.
Custody Solutions Coming
In an interview with Bloomberg, Novogratz repeated the often cited line that Bitcoin is best set up to be “digital gold” rather than an everyday currency. Novogratz claimed that suggestions that institutions weren’t interested in crypto was “rubbish”, a theory backed up by the news released Wednesday that Morgan Creek Digital had initiated the launch of a public pension-backed $40 million cryptocurrency venture.
Novogratz also cited Yale University’s investment in two cryptocurrency funds that was announced in October of last year as evidence that big money was already in the space, adding that the architecture needed to increase institutional investment in cryptocurrency was being worked on.
Forbes Aims to Educate Deep Pockets
Wednesday also brought with it news that Forbes had launched ‘Forbes CryptoAsset & Blockchain’, a new premium-subscription digital newsletter aimed at selected Forbes customers. The newsletter will be co-authored by Jack Tatar, co-author of ‘CryptoAssets: The Innovative Investor’s Guide to Bitcoin and Beyond’, and will be geared toward “educating potential investors in blockchain and crypto”.
The newsletter adds to Forbes’ ambition to be a leading voice in the leading voice in crypto and blockchain world, and could provide an important link between traditional investors and this emerging asset class.
