Woorton reveals 10x increase in institutional crypto investment

Institutional investment is flowing into digital assets in 2020, according to Woorton's Head of Trading Zahreddine Touag

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.

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Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.

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