One of the senior executives of Bank of New York Mellon, one of the largest banks in the USA, commented on the future of crypto assets based on research he did last year.
Michael Demissie, Head of Advanced Solutions at BNY Mellon, announced in October 2022 that as a result of their research, they determined that crypto assets are permanent.
The results of the bank’s survey of 271 institutional investors surprised everyone. 91% of big players cryptocurrency He said he was ready to invest. However, the majority of this audience (70%) want to work with well-known, long-lived organizations for custodial service.
Despite the Bear Market…
The research conducted by the American banking giant also includes institutions that previously invested in crypto and made losses. 88% of investors, of bitcoin He hasn’t changed his mind about the digital asset, despite losing three-quarters of its value over the past year.
BNY Mellon Director Michael Demissie emphasized the survey results at the event he attended and said:
“We clearly see that the majority of our customers are interested in digital assets.”
Demissie stated that the sector will be permanent in the long run, but forward regulation is needed to reduce existing risks:
“We have to act responsibly on crypto. This area definitely needs clear rules and regulations. We need actions to meet investor confidence.”
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