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15% of institutional investors bet on bitcoin

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Bitcoin soars 15% after Tesla says will accept it as payment

15% of institutional investors bet on bitcoin

15% of institutional investors bet on bitcoin
CONTENT

  • Institutional investors invest in stocks and bitcoin

  • Large investors expect the dollar to fall

  • The cost of the main cryptocurrency may rise to $ 270 thousand

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Analysts at Bank of America Corp found that bitcoin is the third most popular investment vehicle used by institutional investors.

Bitcoin surpasses bonds, gold and stocks in popularity

15% of institutional investors bet on bitcoin

According to the latest research by Bank of America Corp, Bitcoin has become the third most popular asset used by institutional investors. Bloomberg reports.

Most often, investors bought shares of high-tech companies (52%). The second most popular is the sale of the dollar (17%), and the third of the dealers is the purchase of bitcoin (15%). In other words, institutional investors believe in the rise in the value of shares of technology giants and bitcoin, and also expect the dollar to fall..

Source: Bank of America Corp

Note that this year has been very successful for Bitcoin. The price of the cryptocurrency has grown by 170%, and the BTC itself is recognized as one of the most profitable assets.

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American institutions remain the driving force in the market, according to Philip Gradwell, chief economist at Chainalysis. It was they who bought the bulk of the cryptocurrencies. In 2020, the number of transactions over $ 1 million increased by 19%.

Seth Guinns, managing partner at investment firm CoinFund, also noted the growing interest from hedge funds. The expert is sure that we are at the very beginning of the trend, which will begin to gain momentum in 2021.

Analysts at JPMorgan are of the same opinion. Experts agreed that large investors, from family offices and wealthy investors, to insurance giants and pension funds, are ready to accept Bitcoin as a financial instrument. The latest large-scale injections from companies confirm this..

Bitcoin may rise in price up to $ 270 thousand

15% of institutional investors bet on bitcoin

If institutional investors continue to actively invest in bitcoin, then the value of the cryptocurrency may grow at least ten times from current levels. Glassnode resource experts refer to the dynamics of the MVRV index, which repeats the dynamics of 2017.

“If history repeats itself, we will see the rise of bitcoin to $ 270 thousand in the framework of the bull market,” analysts write..

Note that over the past six months, several large investors have purchased bitcoins for millions of dollars at once. Bitcoin buyers include MicroStrategy, Square, Grayscale.

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