“The cryptocurrency market is the new Wall Street”

Nelson Minier, head of OTC trading at Kraken, said the cryptocurrency market is the new Wall Street.

“Today’s Wall Street is not the same. When I started working on Wall Street, the first 15 years were a lot of fun. At that time, I worked in the CDS market, which closely resembled today’s cryptocurrency market. There was a very lively trade, many financial innovations were introduced. This market was very vibrant and enthusiastic about progress, ”said Minier, who has also worked with companies such as JPMorgan and Credit Suisse in the past.

“Everything is going to ensure that portfolio managers, adventurers and advanced hedge funds will soon join the cryptocurrency space. At some point, cryptocurrencies will become a phenomenon that everyone will pursue, ”he added.

Minier drew attention to the fact that institutional investors are very interested in cryptocurrencies. This is due to the high potential return on new digital assets. However, the process is slow, as there are still many associated risks in the industry.

“Cryptocurrencies are still one of the most volatile classes on the planet. In a very short time, bitcoin can gain 10% and then also quickly lose 20%, ”he said.

Minier previously said Kraken over-the-counter trading volumes grew 20 times over a year and a half.