BIG FUNDS STARTING TO BUY BITCOIN | WHAT'S UP WITH CRYPTO

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Big funds are starting to invest in Bitcoin.

Starting this year 2020, institutions have started to increase their investment into buying crypto derivative products with Bitcoin investment as the forerunner.

According to coindesk.com, a survey which took place between November and March, spoke to 774 institutions in the U.S. and in Europe, with 393 coming from the U.S. That means around 86 U.S. institutions traded crypto futures this year, compared to just 40 in the 2019 survey.

The survey, which was released Tuesday, also found 36% of respondents – 279 institutions in the U.S. and Europe – were currently already invested in digital assets. Hedge funds and venture funds were the two buckets with the greatest exposure, although Fidelity also found a strong showing among family offices and high-net-worth individuals (HNWIs).

“These results confirm a trend we are seeing in the market towards greater interest in and acceptance of digital assets as a new investable asset class,” commented Tom Jessop, president of Fidelity Digital Assets.

Slowly, the world is adapting to the world of cryptocurrency with big institutions starting to lead into this new and diverse investment product.

News Links:

1. https://www.investopedia.com/investing/why-fidelity-got-bitcoin/
2. https://www.forbes.com/sites/michaeldelcastillo/2020/08/26/fidelity-president-files-for-new-bitcoin-fund/#33bc407845c9
3. https://www.coindesk.com/institutions-crypto-futures-doubled-fidelity-report
4. https://www.forbes.com/sites/elizahaverstock/2020/08/17/can-bitcoin-be-sued/#598f7ff6a9aa
5. https://www.forbes.com/sites/michaeldelcastillo/2020/08/24/cryptoconvert-why-a-168-year-old-banknote-printer-will-soon-be-churning-out-digital-drachmas-for-central-banks/#64a92b7e1827


#bitcoin #cryptocurrency
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