Bitcoin enters its first institutional cycle, SALT's Shawn Owen says
SALT Lending's Shawn Owen says banks and credit unions are rushing into bitcoin as institutional demand builds.
iTrustCapital CEO Kevin Maloney says half of his firm's clients are buying bitcoin, with $1B deployed last quarter.
Kevin Maloney, who leads iTrustCapital, stated that half of the firm's clients are purchasing bitcoin. The company manages $1.3 billion in assets.
According to Maloney, approximately $1 billion was deployed on the platform during the previous quarter. A couple of hundred million dollars of that came from clients' cash reserves. He described what he is observing across what he claims are over 100,000 users, why he believes investors are not "chasing candles," and what the trend indicates about the current market cycle.
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Disclaimer: this article comes from third-party media and is provided for reference only. It does not constitute investment advice. Crypto and other financial products carry significant price volatility risk, so please make your own decisions carefully.
SALT Lending's Shawn Owen says banks and credit unions are rushing into bitcoin as institutional demand builds.
SALT Lending CEO Shawn Owen says Bitcoin's portability and divisibility give it an edge over gold and real estate as institutions enter the market.
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