Institutions Eye Bitcoin as Hedge Against Global Economic Volatility
Hedging was traditionally the preserve of traditional finance, but it’s making its way into DeFi as institutions eye up Bitcoin as a successor of gold
S. Daniel Leon, founder and chief operating officer of Celsius Network, believes in a similar notion, and shared some numbers with Cointelegraph:
“Since the last bull run started, we have seen a dramatic increase in stablecoin loans followed by more deposits of different cryptos — a strong indication that our borrowers are using our product as a means of diversification and hedging. This trend has increased since the start of 2020, with a rise of 41.9% in new depositors. Once users join there is very high retention, and on average depositors add to their existing balance 1.5x a month.”
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