Sterling Witzke, a partner at the Winklevoss twins’ family office Winklevoss Capital, mentions that 2019 will not be the watershed year for institutional investors to get into crypto space, as per her opinion. She further backed her claim by arguing that expectations are a bit ahead of facts on the ground.
Witzke allegedly made the aforementioned remarks during an interview with a crypto media outlet at the Crypto Finance Conference in St. Moritz, Switzerland on Jan. 17. She allegedly argued that the upshot of the 2017 cryptocurrency and digital asset market bull run, when Bitcoin soared to ATH of $20,000 a coin, has been a twisted perception of what it takes for traditional capital to embrace innovation. She said that because the end of 2017 was so crazy, people tend to think the space moves at lightning speed. At the level of underlying technology development, it often does. However, she thinks that it takes a while for institutions to get contented. As per her, there needs to be better custody, credit markets, and healthy debt to get them really excited. So she doesn’t think 2019 will essentially be the year.
It is to be noted that a report was issued by KPMG last fall, regarding the crypto industry. The report proposed that institutional investors are what is needed for the cryptocurrency industry to realize its potential as a full-grown asset class. Notably, this opinion is shared by many prominent voices within the digital asset industry itself. On the contrary, some have voiced concerns over the potentially adverse impact of the increasing financialization of the sector.
Notably, Tyler and Cameron Winklevoss steered the conversation beyond regulatory matters, in interviews tied to their recent ad campaign. They mentioned that they believe that tokenized securities and stablecoins are today among the most exciting developments in the crypto domain.