NYDIG Chief: Bitcoin to See “Game Changing Milestones”

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  • NYDIG co-founder and CEO Robby Gutmann has revealed a series of “pretty game changing milestones” are coming for Bitcoin very soon
  • Gutmann appeared on the On The Brink podcast to say that NYDIG’s strategic partners were working on products that would increase institutional Bitcoin adoption
  • Gutmann predicted “an absolute drumbeat” of innovation

The head of New York Digital Investment Group (NYDIG), Robby Gutmann, has said that the Bitcoin world can expect a series of “pretty game changing milestones” in institutional adoption starting as early as next week. In his appearance on the On The Brink podcast, Gutmann revealed that NYDIG’s “strategic partners” are going to be announcing Bitcoin products and services that will “mark… new points in Bitcoin adoption” imminently, following up an announcement 10 days ago on a $200 million investment from those same partners.

NYDIG Working to Increase Institutional Adoption

Gutmann was speaking to On The Brink host Castle Island about the institutional appetite for Bitcoin when he revealed what he knew about what was coming down the line from NYDIG’s strategic partners:

…starting more or less next week, you’re going to see an absolute drumbeat of pretty game changing milestones from some of these firms. That are really going to mark sort of each progressively new points in Bitcoin adoption, Bitcoin availability, Bitcoin products and services within the existing traditional financial landscape.

Gutmann’s comments echo a statement the company made 10 days ago when they announced that they had raised $200 million from their strategic partners, which include Stone Ridge Holdings Group, Morgan Stanley, New York Life, MassMutual, and Soros Fund Management. These partners, the statement said, would work with NYDIG on “Bitcoin-related strategic initiatives spanning investment management, insurance, banking, clean energy, and philanthropy.”

Bitcoin “Explosion of Innovation” Coming

The statement also added that Bitcoin supporters should look out for an “explosion of innovation in Bitcoin products and services” in the months and quarters ahead, something that Gutmann reaffirmed in the podcast, adding that he couldn’t divulge any more but would “leave it there with a little bit of a teaser on what’s coming down the pipe.”

NYDIG filed for a Bitcoin ETF in February, backed by Morgan Stanley, and currently custodies some $6 billion in BTC for its clients, although last month it predicted that number could rise to $25 billion.