A new report from bitcoin and crypto load provider Genesis Capital reveals some interesting insights into institutional short-selling of cryptocurrencies. Notably, BTC is used less for speculation than altcoins while naysayers Jamie Dimon, Warren Buffett, and Nouriel Roubini are not shorting bitcoin.
$425 Million New Loan Originations In First Quarter
Crypto-Loans provider, Genesis Capital has published its latest quarterly report and insights, covering Q1 2019 and beyond.
The first quarter of 2019 continued the upwards trend seen at the end of 2018, with an additional $425 million in new originations. This took the total since launching the lending business in March 2018 to over $1.5 billion, 38% quarterly growth. Active loans rose 17%, from $153 million to $181 million.
BTC still dominates Genesis’ loan-book, increasing slightly to make up 68% of the loan portfolio. Bitcoin is showing consistent borrowing demand from “market-makers and high frequency trading firms that need working capital for arbitrage…