Lately, it feels like more large institutions are taking Bitcoin seriously and increasing their exposure.
Do moves like this increase your confidence in Bitcoin long term or does it not change your view much?
Does institutional buying make you more confident in Bitcoin’s future?
byu/Mammoth_Cover_3392 inbtc
Posted by Mammoth_Cover_3392
2 Comments
Not at all. It was supposed to be virtual cash for the people, not for banks and multibillion corporations to hold and never use.
Are they really increasing their exposure? Aren’t most institutional buyers using bitcoin for ETFs or other financial products? I read recently that for Blackrock, their bitcoin ETF is their most profitable product… but the profits are from management fees, not from bitcoin price movement.
Yes, Wall street is taking bitcoin seriously, as in they figured out how to make tons of $$$ without really taking on exposure to bitcoin price.