On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
Many institutional investors are predicting a major correction in the cryptocurrency market next year, a survey published by Natixis Investment Managers shows. Despite seeing crypto as the top contender for a major correction, institutional investors are increasingly warming up to the asset class.
Institutional Investors See Crypto as Top Contender for Major Correction
Natixis Investment Managers published the results of a global institutional investor survey Wednesday. The company polled 500 institutional investors who collectively manage $13.2 trillion in assets for public and private pensions, insurance, foundations, endowments, and sovereign wealth funds worldwide. Nearly 100 institutional investors in the U.S. who manage $1.3 trillion in assets were included.
Institutional investors were asked about which markets will see a major correction next year. While “institutions see the potential for corrections in a range of asset classes and sectors,” the survey findings state:
They think the top contender for a major correction next year will be cryptocurrencies.
Natixis detailed that cryptocurrency tops the list of correction concerns with more than half of institutions surveyed calling for a correction. Next on the list are interest-rate-sensitive bonds (45%), stocks (41%), and technology (39%).
Despite predicting a major correction for the crypto market, institutional investors are increasingly warming up to the asset class, Natixis noted, stating:
Even as crypto is the top contender for correction, institutions are beginning to warm to digital currency.
Natixis added: “Four in ten consider crypto to be a legitimate investment option, and of the 28% who invest in crypto, 90% say they will maintain (62%) or increase (28%) their allocation.” Meanwhile, 87% of institutional investors expect central banks to eventually regulate cryptocurrencies.
A growing number of institutional investors have shown interest in cryptocurrencies over the past months. In May, global investment bank Goldman Sachs said that fear of missing out (FOMO) is driving institutions to bitcoin. In July, a survey by Nickel Digital Asset Management shows that 82% of institutional investors and wealth managers are planning to increase their crypto exposure between now and 2023.
Do you agree with the institutional investors surveyed about a major correction in the crypto market? Let us know in the comments section below.
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