Bitcoin’s wealthy holders turning to loans and yield as investment habits mature: Xapo CEO

Wealthy bitcoin BTC $84,459.46 holders are increasingly treating their cryptocurrency as an asset to borrow against and generate income from, marking a shift from speculation toward private banking, according to Xapo Bank CEO Seamus Rocca. At the Gibraltar-based bank, customers are seeking cash without selling their bitcoin, putting some of their holdings into income-generating investments, or accumulating more BTC through interest paid on dollar savings, he said. “Customers are looking for yield and alpha,” Rocca told CoinDesk in an interview, pointing to demand from funds and family offices for accumulation and income products. The behavior reflects bitcoin’s growing maturity, he said. Five or six years ago, the cryptocurrency was primarily viewed as a trading and speculative asset. Today, more holders want financial services built around their existing wealth.

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