Dan Tapiero, a macro investor and fund manager, recently reported on an uptick in institutional interest in the crypto sphere, particularly in the bear market. Tapiero, the co-founder of 10T Holdings, observed that endowments, teachers' funds, and pension funds have begun to take note of the impressive fundamentals of the industry - such as the developments in decentralized finance (DeFi), stablecoins, and the Bitcoin (BTC) ecosystem.

Tapiero states that the current bear market is different than before, as there is currently more progress and development in the crypto industry than solely relying on the price of Bitcoin and Ethereum (ETH). Tapiero points at the massive increase of Bitcoin's hashrate, the rising number of developers in the space, and the multitude of new layer-one blockchains surfacing as potential proof of the sector's growth.

Bigger players are recognizing that Bitcoin has not required a bailout during the banking crisis and that, despite some poor actors, there is tangible value within the industry. This has begun to draw increasingly larger groups of institutions to the sector. NFTs (non-fungible tokens), ordinals on Bitcoin, and other advancements have made the digital currency space attractive to those in the industry.

Tapiero goes on to illustrate that within the past 18 months the number of players within the NFT space has grown exponentially, and that layer-ones with the apex usage levels have reached an unequalled high. He adds that institutions can clearly identify that the crypto world contains possibilities that only come along once every generation, and that this is convincing them to invest further.



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