In 2009, Satoshi Nakamoto launched Bitcoin as a seeming response to the 2008 Great Recession, during which banks and other financial institutions created an environment conducive to economic collapse. The pseudonymous coder’s intentions in launching Bitcoin was implied by a message they embedded in the header of the blockchain’s genesis block, which referenced a headline related to the then-ongoing recession.
Regardless, analysts still expect 2020, the following 12 months, to see institutions delve into the cryptocurrency game.
Related Reading: Why Bitcoin Network’s Record 2019 Is Bullish For the Crypto Market
2020, The Year of Institutional Bitcoin Involvement
Peter Johnson, a Principal at crypto-friendly venture capital firm Jump Capital, recently wrote in an op-ed for The Block that he expects more institutions to bet on Bitcoin and other digital assets in 2020.
He first noted that he expects global macro investors, who focus on long-term narrative shifts on an Earth-wide scale, to begin to siphon capital into Bitcoin due to changes in the macroeconomic and geopolitical environment.
More specifically, Johnson cited Ray Dalio, the co-head of the world’s biggest hedge fund who has written over the past few months that the “system is broken.” Dalio believes that “sound money” will literally get “thrown out of the window” as wealth gaps widen and institutions spend copious amounts of money to achieve goals, setting the stage for alternative assets to rise in value.
The hedge fund manager says gold’s the play, though other analysts have eyed Bitcoin as another hedge to traditional markets.
Johnson added in the post that he expects traditional asset managers to also take positions in cryptocurrency, opining that he expects for the consensus among investors to be that crypto and Bitcoin have a place in a diversified portfolio.
Changpeng “CZ” Zhao, chief executive of crypto giant Binance, has echoed this thesis. Per previous reports from this very outlet, the industry executive said that he thinks 2020 will have a more bullish cryptocurrency market because of an “increasing amount of interest from institutional players.”
Related Reading: China Continues Anti-Crypto Stance With Beijing Warning; Will it Work?
The Movement’s Begun
Sure, 2019 wasn’t the watershed year for institutional involvement that analysts thought it would be, but a Wall Street movement towards cryptocurrency began last year that bodes well for the future.
Fidelity Investments — the Wall Street financial services giant with over $2 trillion under management. The firm, which unveiled the Fidelity Digital Assets division in 2018, began to roll out a Bitcoin custody and trade execution solution this year.
Related Reading: Early Bitcoin Adopter Throws Cold Water On Halving Narrative; Here’s Why
It began with a pilot rollout, with the company only offering Bitcoin-related services to a select set of clients. But just a month or two ago, around the time Fidelity Digital Assets secured a New York trade and custody license that allowed it to serve clients in that state, the service was released to all eligible clients.
Also last year, Bakkt — the cryptocurrency exchange backed by Microsoft, Starbucks, and the Intercontinental Exchange — launched, rolling out its Bitcoin futures contracts in September. The derivatives have since seen strong adoption from institutions, resulting in Bakkt launching other financial products such as cash-settled Bitcoin futures in Singapore and BTC options.
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As Bitcoin's price climbed to over $30,000, many speculated whether this would attract hedge funds and institutions back into the market. With significant sideline capital eyeing lower prices, Bitcoin's self-sustained resilience became apparent.
The record discount in the front-month bitcoin futures traded on the CME indicates institutions are biased bearish. The discount may attract arbitrageurs.
Even though there are many cryptocurrencies recovering today, Bitcoin is continuing to stack up more losses. Interestingly, institutions seem to have identified it beforehand, making their exit as sooThe post Could institutions pulling millions see Bitcoin [BTC] at $20K next appeared first on AMBCrypto.
Bitcoin adoption does not seem to be slowing down as more institutions jump on board with the asset’s functionality. Growing demand from customers has seen various institutions implementing bitcoin payments.
Bitcoin reclaimed its $1 trillion market capitalization after months of struggle. The low price of Bitcoin was an opportunity for not only institutions but also retail traders to fill their pockets.
Bitcoin’s price is finally seeing recovery after more than two months of the bearish market. Meanwhile, adoption continues to surge around the world, as major brands, institutions, and more retail traders are starting to get involved with Bitcoin and the rest of the crypto sector.
Shark Tank star Kevin O’Leary, also known as Mr. Wonderful, says “Bitcoin will always be the gold,” outperforming other cryptocurrencies, such as ethereum, in the long run. He said “there are interests being brought out of all kinds of institutions” for bitcoin.
Institutions exhilarated to dabble with cryptocurrencies, but not enough to go all in. The continuous Bitcoin purchases from institutions are enough to place one under the impression that interest rates from these firms have hit the roof, but BlackRock’s Larry Fink finds that to be misleading to a large extent. His reason being that from […]
Institutional traders are placing bullish bets on Bitcoin as they expect the cryptocurrency to…
The post Institutions bet on Bitcoin price to rally to $75k or more by May appeared first on Coin Journal.
Market analysts are attributing Bitcoin’s sudden surge above $19,000 to aggressive demand from financial institutions and leading companies in the United States.
Amid the COVID-19 crisis, economies worldwide have shuddered and governments have been forced to introduce drastic measures to resuscitate the ailing economy. As a result of this uncertainty, bitcoin has become an attractive investment for institutions.
Bitcoin’s price has dropped 9% in the past month. The aggregate open interest on derivatives exchanges dropped by 24.24%, taking its cue from Bitcoin’s price on spot exchanges.
Source: Skew
The post Institutions are betting big on Bitcoin, should you? appeared first on AMBCrypto.
It feels like just a few weeks ago we were talking about Bitcoin's $10,000 breakout, and now the cryptocurrency is positioned to go past $12,000. This wouldn't be the first time Bitcoin has broken oveThe post Bitcoin over $12,000 - A collective goal for retail and institutions? appeared first on AMBCrypto.
BTC price may have only increased by 8% in the last week, but open interest for CME Bitcoin Futures is up 38% over the same period. With several economic catalysts...
The post Are Institutions Re-Opening Their Bitcoin Positions? appeared first on Crypto Briefing.
Bitcoin may be suffering from post-Valentine's Day blues in the retail market, but with institutions love is still in the air.
Last week, the premier cryptocurrency broke into its 2020 high, recordThe post Bitcoin dropping off $10,000 perch isn't threatening institutions appeared first on AMBCrypto.
Institutional investors have changed the way we look at Bitcoin.
In December 2013, six years ago, Bitcoin, for the first time, broke the $1,000 ceiling. Many skeptics had then suggested that this wThe post Bitcoin in 2019 will be remembered as the year institutions arrived appeared first on AMBCrypto.
As Bitcoin (BTC) has entered a launchpad-like state, finding itself in a lull as sentiment is beginning to trend positive again, institutions have started to accrue long positions of the cryptocurrency.
Bitcoin (BTC) has long been described as a movement to phase out institutions. But ironically, it is institutions that many cryptocurrency investors have claimed to rely on to boost Bitcoin to fresh all-time highs.
The Bitcoin price has been on an absolute tear of the past year. Despite the cryptocurrency currently trading some 20% lower than its $14,000 year-to-date high, BTC is still up some 200-odd% since January 1st.
Anthony “Pomp” Pompliano is back at it again with his relentless attempts to convince institutions, high net-worth individuals, and the public at large to delve into cryptocurrencies, especially Bitcoin (BTC).
Among the most popular cryptocurrencies in the market, Bitcoin has always been the most valuable. Numerous institutions are now accepting Bitcoin as a means of payment – from coffee shops to institutions of higher education.
Now we know what Bitcoin needs to do before it can become more widely adopted by institutions, but we must also consider what these institutions need to do too.
What must Bitcoin do?
Well it’s simple, Bitcoin needs to find balance, a steady price and see consistent regulation (adoption).
In 2014, Kings College became the first US school to accept tuition in cryptocurrency. After that initiative, a number of institutions have also made efforts to add Bitcoin to their payment option.
Some of the crypto industry’s biggest exchanges are joining with the Winklevosses in an effort to bring self-regulation to a market that many perceive to be fly-by-night and unstructured.
Recently, Apple came into the news as the first company to hit the $1 trillion mark even though many thought that the cryptocurrency market world be the first to attain it as it grew above $800 billion value as at Jan 2018.
U. S. -based digital currency exchange Coinbase has filed a patent on a new Bitcoin payment system designed to make cryptocurrency payments safer. The new platform will provide an added layer of security for users’ keys and allow them to make Bitcoin payments directly from their digital wallets.
Los Angeles-based cryptocurrency investment firm SFOX has raked in roughly $22. 7 million in its Series A funding. The round was headed by venture platforms Social Capital and Tribe Capital and earned the participation of other firms like DCG, SV Angel, Blockchain Capital and Y Combinator.
SFOX, a cryptocurrency prime dealer for institutional and large-scale investors, including funds, announced today that it had raised Series A funding of $22. 7 million. Contributors to the funding round include Y Combinator, Blockchain Capital, and others.
BitAngels founder Michael Terpin has filed a $224 million lawsuit against telecoms provider AT&T, alleging that its negligence led him to lose about $24 million worth of cryptocurrency to fraudsters, according to a CNBC report.
Trading cryptocurrencies is illegal in the kingdom of Saudi Arabia, as they are high risk to traders and are out of the government’s supervision. This is according to a statement issued on August 12 by a standing committee comprised of regulators from various government institutions.
The anonymity and privacy that is offered by Bitcoin transactions are appealing to a wide variety of web hosting customers. Bypassing financial institutions and government regulations, Bitcoin transactions typically require little or no processing fees and can be used by companies and customers in all countries that have access to the Internet, including countries that […]
Bitcoin has generated diverse opinions on the ground of its monetary status. Over the years, the cryptocurrency has been used as a medium of exchange on most of the dark web marketplaces, and institutions.
On August 8, 2018, JPMorgan’s Jamie Dimon stated that more banks are considering building businesses to work with the digital currency ecosystem, seeing the emerging space of cryptocurrencies as a blind spot for major financial institutions.
The International Monetary Fund May Be Helping Financial Institutions Adopting XRP It will be very important to follow whether XRP is going to be acknowledged as a security or not. The cryptocurrency world is waiting since a very long time about this decision.
Financial technology firm Paxos has formed a partnership with INTL FCStone Inc’s precious metals division. The department will now be using Paxos Confirmation Service — a tool built specifically for the precious metals arena — to instantly automate daily trade confirmations and reduce human error.
Growing support from Wall Street is encouraging Bitcoin bulls. As a result, big money from financial institutions could soon enter the crypto market. Investing in Digital Gold Bitcoinist reported yesterday that Goldman Sachs is moving to solve Bitcoin’ main obstacle for institutional investors: custody.
The slow trickle of traditional investment into the crypto market may turn into a flood if a new platform launched by blockchain services provider AxiomLevel Technologies makes its desired impact.
Thailand’s central bank has announced the rules under which financial institutions, including commercial banks, and their subsidiaries can engage in cryptocurrency activities. They include securities, asset management, and insurance firms.
Many cryptocurrency proponents eagerly await the arrival of institutional interest, as a surge of capital will push this industry to new heights, in terms of price and innovation. As has been the common theme over the past months, institutions from legacy markets are finally starting to take notice of this promising asset class.
Big corporate names, including Starbucks, Microsoft, and Intercontinental Exchange, are partnering up to launch an integrated platform that enables consumers and institutions to buy, sell, store, and spend digital assets on a seamless global network.
When the SEC announced its rejection of the Winklevosses’ latest bitcoin ETF filing, the industry found itself reckoning with a problem on repeat: striving toward the goal of approval, another Exchange Traded Fund (ETF) proposal faced the SEC’s death knell.
Bart Smith, aka Wall Street’s Crypto King, went on CNBC’s Fast Money recently and gave positive predictions for the future of Bitcoin. Smith, who is head of digital asset at Susquehanna, appears to not be troubled by Bitcoin’s recent downturn nor the recent denial of the proposed Winklevoss Bitcoin ETF by the SEC. Smith attributes […]
Binance has scored a massive $2 billion investment from MGX, an Abu Dhabi-based sovereign wealth fund. The investment is Binance’s first institutional deal since Changpeng Zhao founded it in 2017.
Crypto VC firm Foresight Ventures has committed $25 million to support early-stage blockchain initiatives on BNB Chain. Singapore-based crypto venture capital firm Foresight Ventures will invest up to $25 million in projects on BNB Chain through 2025 as part of…
Canary Capital has launched the Canary AXL Trust for institutional investors to gain exposure to the Axelar native token, AXL, which jumped 12.5% after the news. According to the press release, the Canary AXL Trust is meant to be a…
Crypto-focused asset manager Grayscale has announced the creation and launch of the Grayscale Pyth Trust. Pyth Trust is a single-asset crypto investment fund designed to offer exposure to Pyth Network (PYTH), the native governance token of the oracle network’s ecosystem. …
Crypto investment products registered $1. 3 billion in inflows last week. Ethereum outpaced Bitcoin with $793 million compared to $407 million. Digital asset investment products notched $1. 3 billion in inflows the past week.
Coinbase, the U.S.-based cryptocurrency exchange, has acquired the Cyprus unit of BUX, now rebranded as Coinbase Financial Services Europe. The acquisition grants Coinbase a Cyprus Investment Firm license under the Cyprus Securities and Exchange Commission, allowing it to offer contracts…
