BTC Financial Solutions Provider NYDIG Got $200M Injection

The BTC financial solutions provider NYDIG announced they will receive a $200 million injection in growth capital funding by Morgan Stanley, FS Investments, Soros Fund Management, Stone Ridge Holdings, and Mass Mutual as well so let’s read more in our latest Bitcoin news today.

Robert Gutmann who is the co-founder and CEO of NYDIG said that the firms that are taking part were more than just investors and they are considered partners because the companies know each other for years. The BTC financial solutions provider will be working with these companies on a BTC-related strategic intuitive on insurance, banking, clean energy, and investment management while promising that the $200 million investment will deliver an explosion of innovation in BTC products and services.

With the retail and institutional BTC adoption surging, corporations are looking for some new ways to gain more exposure to the crypto industry and while some companies like Tesla and Microstrategy chose to hold crypto on their balance sheets instead of cash, others have decided to take advantage of the growing demand for investment solutions. Now, the new crypto financial products are on the rise.

For example, the first few crypto-based exchange-traded funds became available on the Toronto Stock Exchange were a few months ago and If the sector continues growing at this pace, it’s quite possible that more capital will flood into the sector. On a similar note, NYDIG announced that the clients have more than $1 billion in both direct and indirect exposure while over the past three months BTC increased by 170% compared to Dow Jones which only increased by 5%. With the global equity markets slowing down because of fears of inflation, investing in crypto looks even more attractive than ever.

As recently reported,  Morgan Stanley has already involved because the bank holding 10.9% shares of the business intelligence company Microstrategy. The latter paved the way for all other institutional investment companies to invest in BTC as the company started in 2020, totaling $1.125 billion worth of BTC at the end of 2020.  America’s oldest bank BNY Mellon followed Tesla’s example and introduced BTC custodial services and Mastercard also announced plans to add support for crypto later in 2021. Apart from these announcements, there’s a whole lot of rumors and suggestions on what the corporations could be doing next to embrace BTC and other crypto assets. Morgan Stanley’s $150B unit is one of the new companies to consider investing in Bitcoin.