Businesses ask to add bitcoin to their cash flow every week

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Darren Jordan, director of Quick Take BitGo, said he regularly receives calls from companies looking to add bitcoin to their balance sheets. The CEO of Genesis Trading noted that this was one of the most significant changes of the past year.

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Companies regularly wonder how to add bitcoin to their balance sheets, according to Darren Jordan, EMEA managing director at BitGo.

Speaking at the Token 2049 conference in London on Thursday, Jordan said: “The dramatic change and I have this conversation several times a week with companies. And they are looking to allocate a small percentage of their balance sheet.”

“This is the most significant change we have seen in the past 12 months,” he added.

Jordan said it involved a lot of education, with companies having to focus on liquidity, regulatory frameworks and whether they are allowed to do so.

In the same panel, Genesis Trading CEO Michael Moro agreed with Jordan. Moro said that although the company has worked with hedge funds since 2015 and family offices and similar businesses have entered the market since, this is one of the most significant changes of the past year. .

Moro said we’ve seen a “huge increase in the number of companies putting crypto on their balance sheets, and it wasn’t just US tech companies, I think we’ve seen corporate involvement again. South America and Southeast Asia as a sort of diversification of their cash portfolio are playing themselves out. “

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2021 The Block Crypto, Inc. All rights reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial or other advice.

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