Ross Stevens, founder and chairman of the New York Digital Investment Group (NYDIG), predicted that the company could significantly increase its bitcoins under management by the end of 2021 to $ 25 billion.
To Report “The Block,” Stevens made the remarks during the 2021 MicroStrategy World Conference. NYDIG currently has $ 6 billion in bitcoins under its management, and the company says that figure could reach $ 25 billion by the end of the year.
In an interview with Michael Saylor, CEO of Microstrategy, which kicked off this year’s conference, Stevens said:
I believe that the most important step that CEOs need to take in the next ten years is to decide whether to allocate resources to buy Bitcoin.
Stevens claims that NYDIG has not yet had a client who has repaid its initial investment.
He also said:
My partners bought more bitcoins in 2020 than in 2013-2019. As inflation continues in Fiat-based businesses, I expect us to buy more bitcoins in the next two years. We are an investment company, and if we did not believe that we could make money this way, we would not invest a single penny in this field.
NYDIG CEO Robert Gutmann recently appeared on The Scoop podcast, stating that public companies can follow in the footsteps of companies such as Square and Microstrategy by dedicating part of their balance sheet to Bitcoin.
According to Guttman, companies have a duty to answer the question of whether it is in the interest of their shareholders to hold 100% of their assets in dollars.