Day by day, we receive more and more reports that institutional money is coming into the world of cryptocurrencies and bitcoins in particular. Are we ready to see Institutional Investors FOMO soon?
For those unfamiliar with what FOMO is:
FOMO is not just the sense that there might be better things that you could be doing at this moment, but it is the feeling that you are missing out on something fundamentally important that others are experiencing right now.
If we see the beginning of what happened in the 2017 rally, but with institutional investors on board, this upcoming rally should be slightly different, but with the same basic concept inside.
the opinion of one of bitcoin fans on twitter:
“The 2017 run was driven by short term retail and trader speculation, a fear of missing out on fiat gainz. This run will be dominated by fear of missing out on adoption of bitcoin as a reserve asset, by individuals, corporations, and even nations.”
I wonder if we’ll see the same cycle again – big pump to new ATH (all time high) and then prices drop by 90%?
No one can be sure of this, but looking at this ongoing transformation and addition of cryptocurrency, I am pretty confident that the world (people, investors, global economy, global finance and institutions) will never be the same again …
Check interesting news below:
Institutional Investors Have Bought $429 Million Worth Of Bitcoin And Crypto Assets In A Week
The institutional interest in Bitcoin and other cryptocurrencies continues. A recent report shows that they’ve bought almost $500 million in less than a week.
CoinShares data reaffirms the narrative that institutional investors continue to allocate considerable amounts into cryptocurrency assets. Last week was the second-highest seven-day period with nearly $430 million inserted in the crypto market, driving the assets under management to an all-time high of $15 billion.
Record-Breaking Weeks For Institutional Money In Crypto
By citing data from the digital asset manager CoinShares, Reuters reported the significant growth of institutional money entering the cryptocurrency space in the past few months.
On a more micro-scale, the week that ended on December 7th saw a fresh wave of $429 million. Thus, it became the second-best week after the all-time high record marked less than a month ago with $468 million.
The world’s largest cryptocurrency manager Grayscale has taken the largest pie of the share with 78% (or $336 million). With the latest injection, Grayscale’s total assets under management have grown to north of $12 billion. In 2020 alone, the company has seen inflows of $4.3 billion.
Somewhat expectedly, bitcoin-focused funds have seen the most substantial share of these funds. On a weekly scale, such funds have attracted nearly $335 million. Thus, the total amount of inflows has jumped to $4 billion since the start of 2020.
Only The Cusp Of Institutional Adoption
The cryptocurrency community has contemplated for years on the idea of if or when institutional investors will start recognizing and investing in bitcoin. Although this remained speculation at best in the past, 2020 has turned out to be the first significant sign of institutional adoption.
Prominent names as Paul Tudor Jones III and Stan Druckenmiller praised BTC and publicly admitted that they have allocated funds in it. The Wall Street giant Guggenheim filed a document with the SEC to purchase up to $500 million worth of bitcoin for one of its funds as well.
The CoinShares report indicates that the total AUM in the sector has reached an all-time high of $15 billion. Despite these large names entering the space, James Butterfill, investment strategist at the digital asset manager, believes that the industry is only “on the cusp of institutional adoption.”
“On an anecdotal level, based on our client conversations over the course of 2020, we have seen a decisive shift from inquiries of speculative nature to those that begin with comments such as, ‘bitcoin is here to stay, please help us understand it.’”
*The HYIP industry can also start functioning a little differently, offering investors new earning schemes, not just accepting cryptocurrency deposits, but also working on other principles…
*********************************
If one of the paying programs on our Monitor appeals to you, please support EmilyNews by registering for it on our website. Thanks very very much!
EN web Support Chat | Hyips and Crypto questions – HyipChatEN
Telegram Chat for Crypto and Hyip reports: @HyipChatEN
*********************************
Be the first to get most important HYIP news everyday!
Simply Follow EN Facebook, EN Telegram, EN Twitter
or Subscribe to EN Feedburner and submit your email address!
If you like this article and want to support EN – please share it by using at least few of social media buttons below. Thanks and See you tomorrow!
