Despite the fact that valuation of the digital currency marketplace has declined by 85% after hitting 816 billion USD this January, the participation of such major financial institutions as Nasdaq, NYSE, Bakkt, and Fidelity is increasing the strength of Bitcoin’s institutional infrastructure, according to the VC financier.
Last year, when the digital currency marketplace recorded one of its biggest bullish rallies in history, with BTC value exceeding 19,000 dollars and retail merchants and individual financiers driving the cryptomarket to its new highs. In the long-term perspective, Bogart claimed that establishing a solid infrastructure with proper security standards, financier protection, liquidity, and regulatory compliance will assist the progress of the capital influx from both institutional and accredited financiers.
Even now, such endowments as Yale have already begun financing the digital currency market via regulated funds and an increasing number of financial institutions have begun providing their custodial services to assist the progress of the deals for institutions of large scale.
According to Bogart himself, in the meantime, the process of institutionalization of both the asset class and the ecosystem is getting more strength. With the examples set by such endowments as Harvard, Yale, and MIT entering the digital currency space, Nasdaq and Bakkt beginning to enter into BTC derivatives, there is a lot of strength in the infrastructure, which gives the chance for the next surge of the cryptomarket to become caused by a new team of established and accredited financiers.