In January 2021, Robert Gutmann, the CEO of New York Digital Investment Group (NYDIG), revealed that “100 of the last 100 conversations” NYDIG had with investors “were about Bitcoin.”
Remember when Ross Steven, the founder of Stone Ridge, said "Soon you will just see a wall of money entering Bitcoin”?
Yesterday it became clear exactly what he meant. NYDIG, a part of Stone Ridge Asset Management, unveiled a plan to create "$9trillion/year Bitcoin products and services for the global insurance industry."
Previously raising funds from New York Life and Mass Mutual, NYDIG has now “raised $100 million in additional capital” from real estate and personal accident (P&C) insurers.
The global real estate and accident (P&C) industry are huge. It pays out over $1 trillion in insurance claims annually. “I am delighted to welcome Starr and Liberty Mutual to NYDIG to our expansion of Bitcoin into new areas of insurance,” said Robert Gutmann, NYDIG Co-Founder and CEO.
“Fiat depreciation causes inflation in fiat premiums, while collapsing the purchasing power of claims. We see a brighter Bitcoin-powered future for the billions who depend on the insurance industry every year.” - added Robert Gutmann.
Still waiting for Bitcoin at $6000?