Here’s how institutional investors ignited Bitcoin’s rally to $40,000
Experts weigh in on the main events from 2020 that impacted Bitcoin’s price the most. From the COVID-19 pandemic to mass-scale money printing and social unrest, 2020 was a wild year. Alongside a barrage of newsworthy events, Bitcoin (BTC) also turned in a standout year in the price category, ultimately rising from $3,600 to past $41,950, besting its 2017 all-time high of $19,892. A number of events, both crypto-specific and mainstream, appeared as catalysts for Bitcoin’s price action. Several crypto industry players weighed in on the events they believe affected BTC’s price action the most....
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Bitcoin investment by institutions is now a common occurrence. This was not so in the previous years. Institutional investors have been investing in cryptos for a while. But mostly at a conversation rate. 2020 changed all of that. The bull that started in 2020 saw more institutional money coming into the market. Predictions pointed towards […]
Bitcoin's slow crawl toward $36,000 has given select altcoins the green light to rally higher. Aggressive buying by institutional investors is one of the main reasons for the current Bitcoin (BTC) bull run. Some investors expressed their intent to hold their positions for a few years, but it is also prudent to note that many of these investors have recently developed a love for Bitcoin and their conviction to HODL may not resemble that of the early Bitcoin whales. The current bull market could also differ from the last as institutional investors simply cannot hold on to their positions if....
Some stats indicate Bitcoin’s current rally could be more reliant on institutional investors than ever before. Within 48 hours of Grayscale reopening its services to new investors on January 13, Bitcoin’s price shot up by almostd 20%, to once again hover just under the $40,000 mark. During the same period, the institutional investment firm added 4,618 BTC to its portfolio at a current value of $182 million. Including last quarter’s intake of $3.3 billion, which is mostly BTC, Grayscale’s crypto portfolio sits at $27.6 billion.Bitcoin isn’t the only coin to see strong support since January....
Institutional adoption is the buzzword du jour, probably a factor in bitcoin's price rally close to $20,000, and not even really happening yet.
Regardless of Bitcoin’s price or future economic scenarios, Bitcoin mining will be a profitable activity. For years, institutional investors have been watching Bitcoin from afar with bewilderment and amusement, but with little to no participation. Although they were attracted by the high returns, they were scared away by Bitcoin’s infancy, lack of rules and the myriad headlines warning of hacks, bankruptcies and scams. In its early years, Bitcoin (BTC) lacked the on- and off-ramps required for most institutional investors, making it virtually impossible to get approved by any corporate....