Market maker and OTC desk Woorton has reported a 10x increase in trading volume from 2019 to 2020, with an overall volume above $10 billion.
Woorton’s Head of Trading, Zahreddine Touag, spoke to Coin Rivet during this week’s virtual Paris Blockchain Week Summit, revealing a significant uptick in interest from CFOs of large companies looking to purchase Bitcoin for treasury management.
Touag’s comments were reinforced by yesterday’s news that saw Massachusetts Mutual Life Insurance purchase $100 million of Bitcoin for its general investment fund.
It’s also worth noting that the likes of MicroStrategy and Square have invested $475 million and $50 million in the asset class respectively this year.
Touag added: “This year we have been reached by 10 times the amount of CFOs from large corporations because they want to get into crypto.”
The value of Bitcoin has experienced a tremendous uptick in 2020, rising from March’s gruelling lows of $4,000 before testing its all-time high of $20,000 just eight months later.
This has been spurred by institutional adoption of digital assets alongside a charge for Central Bank Digital Currencies, which is being discussed by the likes of the ECB, the Bank of England and the French Central Bank.
For more news, guides and cryptocurrency analysis, click here.
[…]
Learn more
The Tulip Prize [1] was awarded yesterday to François Villeroy de Galhau for a speech…
Senator Elizabeth Warren, supported by other senators, today introduced a bill titled the “Digital Asset…
President Volodymyr Zelensky today signed the “virtual assets” law adopted by the Ukrainian parliament on…
Joe Biden today signed an executive order asking the federal government to assess the risks…
After the implementation of the Ethereum blockchain in the consensus Proof-of-Stake model called “Beacon Chain”,…
It hung in the face of investors, this correction. And if the movements of Bitcoin…
Leave a Comment