![\"Asset](\"https:\/\/www.cryptocabaret.com\/wp-content\/uploads\/2021\/02\/nydig1-768x432.jpg\")
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The founder of Stone Ridge Asset Management and the New York Digital Investment Group (NYDIG) sees a \u201cwall of money\u201d coming into bitcoin based on his firm\u2019s order book. The executive believes that institutions are just getting started and we will see an explosion of bitcoin-focused traditional financial products within a year.<\/strong><\/p>\n Stone Ridge Asset Management and NYDIG founder Ross Stevens shared his insight on institutional adoption of bitcoin last week in an interview with Microstrategy CEO Michael Saylor. Stevens founded Stone Ridge in 2012 and NYDIG in 2017, where he now serves as its executive chairman. Today, \u201cNYDIG is a full service vertically integrated bitcoin-only financial services firm,\u201d he described.<\/p>\n \u201cA year ago, we had 25 institutional clients,\u201d he told Saylor. \u201cToday, we have 280 institutional clients. We\u2019ve got a pipeline in the onboarding process of 96.\u201d Stevens added that at the current capacity, his company can onboard 75 institutions a month. He further revealed:<\/p>\n We\u2019ve got over $6 billion in bitcoin now between what\u2019s in the door and what\u2019s committed from institutions \u2026 By the end of the year, I\u2019m confident we\u2019ll have over $25 billion of bitcoin.<\/p>\n<\/blockquote>\n Stevens emphasized: \u201cI\u2019ve just got this order book. I\u2019m not guessing. I see what\u2019s happening.\u201d<\/p>\n As for the types of institutions that are investing in bitcoin, Stevens said: \u201cAll kinds of institutions are adopting bitcoin: public companies, private companies, hedge funds, private equity funds, credit funds. Even investors who if you asked me a year ago would they come in I would say absolutely not.\u201d<\/p>\n Emphasizing, \u201cI know for sure because I\u2019m not guessing. They\u2019re just getting started and these institutions want to do more than just own bitcoin. That\u2019s table stakes,\u201d he elaborated:<\/p>\n Within a year, America is going to be able to get a portion of their income annuities paid in bitcoin. Americans will be able to get a portion of their salaries paid in bitcoin. You want that paltry interest on your CD paid in bitcoin, you\u2019ll be able to get that too. There\u2019s going to be an explosion in bitcoin-driven financial innovation.<\/p>\n<\/blockquote>\n <\/ins> <\/ins> <\/p>\n He continued: \u201cAnother interesting phenomenon we are seeing in our book is exactly zero clients have walked back the allocation. That may not be true for other firms but that\u2019s true for us. So, once people get off zero, they either stand pat or they increase.\u201d Furthermore, he opined that right now:<\/p>\n What\u2019s driving \u2026 accelerating institutional adoption is the view of bitcoin being de-risked. I think that\u2019s why you\u2019re just going to see a wall of money \u2026 coming into the asset class.<\/p>\n<\/blockquote>\nNYDIG Bullish on Bitcoin<\/h2>\n
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