Alan Lane, CEO of Silvergate, a crypto-focused bank, said that the bear market in digital assets will continue for a while, but they expect an increase in crypto loans.
Silvergate CEO Alan Lane in an interview, the price drop seen in digital assets rising interest rates and global inflation Considering macroeconomic events such as differs from otherinvestors’ current decline in this respect is comparable to others. not comparing stated that it should.
In the CEO statements, the bank’s Bitcoin will continue to increase credit and these loans one of the best loans they’ve ever given stated that. Silvergate is market-driven with its recent crypto-focused loans. bridge between digital and traditional finance seen as.
In May, Silvergate announced that it could buy more Bitcoins. MicroStrategy, CEO of Michael Saylor He gave a loan of $205 million. Experts say that the company’s increase in crypto loans is related to Bitcoin. increased the correlation expressed.
According to Silvergate’s second quarter 2022 reports, second-quarter net income is year-over-year. 85% increasing 20.9 from million dollars 38.6 rose to millions of dollars.
Experts say many economists use Silvergate as a tool to measure capital’s prospects for Bitcoin. indicator The increase in net income and share prices in the last 3 weeks, considering that the 60%earnings over capital trusts Bitcoin again said it could mean.