Because of high potential upside..?
Another Crypto market update was provided recently by Gissis (reviewed here).. The program is monitored on EN for 226 days already and have returned 596.1% of the investment at the time of writing..
The update is below:
3 Trends Are Drawing Wall Street to Bitcoin and Crypto.
Over the past few months, there has been a strong uptick in institutions adopting Bitcoin and crypto-assets.
Institutional investors are accumulating vast amounts of Bitcoin. 62,972 Bitcoin has been added to Grayscale’s Bitcoin Trust over the past 12 weeks. Over the same time frame, 125,368 BTC was mined.
That’s to say, a single firm on behalf of its institutional clients was responsible for buying 50% of all the BTC mined over the past three months.
Adding other venues like Bakkt and spot markets into the mix, and it’s clear that there is strong demand for cryptocurrency from Wall Street players.
According to Fidelity Investments, there are three reasons why institutions have suddenly increased their involvement in the crypto industry.
On June 9th, $2 trillion asset manager Fidelity Investments released its second annual survey of institutional investors on digital assets.
Along with discovering that 36% of institutional respondents have some sort of exposure to the crypto market, the survey found the reasons why Wall Street sees promise in this market. They are as follows:
– Cryptocurrencies are largely uncorrelated with other asset classes.
– Cryptocurrencies and blockchains are “an innovative technology play”.
– Digital assets have “high potential upside”.
Stay up to date with Gissis Holding Company!
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