BitMEX CEO notes growing institutional interest in the crypto market

Alexander Höptner also predicted Ethereum to rise to $3000 by the end of 2022

01.10.2022 - 09:45

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What’s new? Alexander Höptner, CEO of crypto exchange BitMEX, said that despite the bear market, institutional investors’ interest in the crypto sphere continues to grow. According to Höptner, large investors invest in innovative industries precisely during downturns, Cointelegraph reports. He explained that during bull market periods, institutional investors are forced to make hasty decisions, which is difficult for large venture capital companies. The CEO of BitMEX also noted the growing interest of institutions in Ethereum after the network switched to the Proof of Stake (PoS) consensus algorithm.

Cointelegraph’s material

What else did Höptner add? The head of BitMEX explained that the Ethereum network became compliant with environmental, social, and governance (ESG) standards after the upgrade.

Höptner also predicted that ETH will be trading at $3000 by the end of 2022. As of October 1, 10:30 UTC, the second most capitalized cryptocurrency is trading at $1330, down by 0,55% per day, according to Binance.

In September, State Street, one of the oldest US banks, reported that its institutional clients remain interested in blockchain and cryptocurrencies even during the bear market. The bank stressed that despite strong volatility in June and July, corporate clients did not give up their strategic bets on the asset class itself.

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