Alexander Hoptner: “Institutionalists continue to be interested in cryptocurrencies”

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Alexander Hoptner, CEO of cryptocurrency derivatives exchange BitMEX, said that he does not see a decrease in interest in the cryptocurrency industry from institutional investors.

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During the Token2049 conference, which took place in Singapore on September 28, Alexander Hoptner emphasized that he did not notice “even the slightest decrease in institutional interest”, despite the bearish market trend.

He noted that it is often during the fall of markets that institutionalists invest in innovative areas. In times of rapid growth, decisions need to be made quickly, which is quite difficult for large organizations. A bearish cycle gives a larger time window and more favorable conditions. Hoptner also revealed that retail investors are withdrawing funds from cryptocurrencies:

“I think now institutional investors are preparing to provide crypto-currency services. Retail investors will come back later and invest again in digital assets.”

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The BitMEX CEO also noted the significant institutional interest in Ethereum after the network of the second cryptocurrency switched to the Proof-of-Stake (PoS) algorithm. Now this blockchain has become even more attractive for creating various projects and now is “the perfect time to launch new financial products.”

As for the ETH rate, Hoptner fully admits that by the end of the year the price of the second cryptocurrency will exceed $3,000. However, so far the transition to PoS has not affected the ETH rate too much and the coin continues to trade around $1,300.

Earlier, FTX CEO Sam Bankman-Fried said that the main obstacle for institutional investors remains the lack of regulation of the cryptocurrency industry.

Source: Bits

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