Bittrex CEO predicts ‘aggressive’ institutional use of crypto as big players take advantage of opportunities

Bittrex Global CEO Oliver Lynch predicts that the giants of traditional finance will aggressively adopt crypto to seize the opportunities the industry presents.

In a new interview with Scott Melker, the head of the leading crypto exchange says he expects leading financial institutions like Goldman Sachs to soon take on a bigger role in crypto.

Linch says he believes institutional adoption will not hurt crypto, but instead increase the pace of innovation.

“They’re coming and they can try to beat us and they’re going to be more innovative. They’re going to be more aggressive. They’re going to push the limits a lot harder with the weight. It makes the industry better. It makes the opportunities for individuals better. And yes, it’s going to hurt along the way, because war hurts. But it’s not crypto versus Goldman Sachs, or crypto versus institutions. It’s a race to see who can make crypto better.”

Lynch expects many partnerships to form between traditional financial institutions and those in the crypto sector.

“Historically, the big players have been the biggest drivers of innovation. Are they a bit stuck in a rut at the moment? Are they a bit slow to adopt at the moment? Yes, sure. But actually the big change will happen when they stop fighting against it and we stop fighting them. And we start talking about partnership and cooperation.”

He also notes that during the bear market, many of the financial giants moved to establish crypto divisions within their companies, positioning themselves for the growth of the industry.

“The big talking point for this bear market is institutional interest in crypto. Every major bank now has an extensive crypto desk, not only for trading but also for partnerships. It’s a nice story. Everyone likes a goody and a baddie and likes a war against the big bad giants of Goldman Sachs. But actually they are not the big bad giant. They are the people you need to recruit.

Show them a way it can be done and it can make them money and I guarantee you they won’t stand in the way of it. They will step to the metal to take advantage of that opportunity.”

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