Institutional Bitcoin Investing Is Finally Happening

Bitcoin, Blockchain, Crypto, Cryptocurrency, Coin

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Mike Alfred is one of the most influential players in the institutional bitcoin investment space. He founded a company called Digital Assets Data.

His company — which sold institutional-grade crypto data feeds — was acquired by NYDIG, a leading provider of bitcoin software for professional investors. (Read my article “Institutional Investors Likely to Grapple With Crypto FOMO” for more on NYDIG.) 

So when he dropped the following two tweets this week, it was a big deal. On September 1, he posted:

Some big names are likely to announce bitcoin ownership in the near future. I believe this will have a hugely bullish effect on bitcoin. 

Mike followed that bombshell up with another one on September 2.

Institutional adoption is finally happening. JPMorgan, Morgan Stanley, and other investment banks are now offering bitcoin investing services to their wealthy clients. And going by Mike’s tweets, there are plenty more to come.

Client demand for bitcoin is simply too high for institutions to ignore. JPMorgan and Morgan Stanley had to partner with NYDIG to offer services to their clients. 

Early adopters like Fidelity Digital Assets, Coinbase, NYDIG, and others are already extremely well-positioned to benefit from growing institutional demand. 

In other bullish news, Coinbase is officially adding $500 million in crypto reserves to its balance sheet and will put 10% of its profits into the crypto market moving forward.

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