Crypto Doom and Gloom: Banking CEO Says There’s “No Interest” from Institutions

The CEO of Revolut has claimed that large institutional clients, which are often cited as the drivers of the next crypto bull run, have shown very little interest in investing in assets like Bitcoin and Ethereum.

Revolut CEO: Institutional Investors Show “No Interest” in Crypto

While speaking at the Web Summit 2018 in Lisbon, Portugal this week, Nikolay Storonsky, CEO of digital banking startup Revolut, revealed that institutional investors aren’t yet ready to enter the cryptocurrency market as speculators believe. This is due to an overall lack of appetite for and interest in cryptocurrencies, reports Bloomberg.

“There is no interest from big institutional investors so far,” Storonsky said.

“Unless these big institutional investors and hedge funds move heavily into the crypto world I just don’t think banks will move because they simply try to make money from their clients,” he explained.

The cryptocurrency community, which has been battered and beaten during the…

Read Full Story : NewsBTC

2018-11-08 18:30:29

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