The New York Digital Currency Group (NYDIG) and other institutional investors are still buying Bitcoin despite the reluctance in retail. NYDIG is one of the companies that has been financing crypto miners since the 2021 bull run. The company recently started a project, Institutional Bitcoin Fund, and had 59 investors raise $720 toward it.
On the 3rd of October, the company hired Tejas Shah and Nate Conrad to facilitate mining and payment business lines. The two also work with major financial companies, for instance, Wall Street and Golden Sachs.
In the company’s press release, Ross Stevens stated that when markets crash, there are always individuals who will rise. Their race to attain quality from the most risk-ware institutional investors has worked for NYDIG as the company earns revenue and Bitcoins in the process.
