NYDIG Expects to Hold $25B in Bitcoin for Institutional Clients by Year End
CEO Stevens said NYDIG's institutional order books are looking bullish for the year.
Updated Sep 14, 2021 at 12:06 p.m. UTC
![Stone Ridge CEO Ross Stevens speaks to Michael Saylor at World.Now.](https://www.coindesk.com/resizer/Jp6dR0PVxd3wfgB1iRx-_ZTycHM=/567x370/filters:quality(80):format(jpg)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/XFMJXDHBVFF4TN4DHWUB5WO34E.png)
Stone Ridge Asset Management's bitcoin spinoff firm – NYDIG – already has enough institutional buy orders lined up to push its bitcoin (BTC) holdings over $25 billion by the end of 2021, according to CEO Ross Stevens.
- "I am confident we'll have over $25 billion of bitcoin [by EOY 2021]. I just got this order book. I'm not guessing, I see what's happening," Stevens told MicroStrategy CEO Michael Saylor Tuesday.
- NYDIG currently manages $6 billion in bitcoin for its 280 institutional clients, with at least 96 more waiting in the wings, Stevens said. He said NYDIG can onboard at least 75 a month.
- "I didn't realize there were so many institutions moving so aggressively into this space," Saylor said. He has personally shepherded over $1 billion in bitcoin buys for MicroStrategy this year.
- Stevens delivered the first bitcoin-focused talk of MicroStrategy's annual World.Now conference.