2 November 2024
Institutional Investors Are Piling Up Their Bitcoin Bags
Raoul Pal, a big-time Bitcoin investor and the co-founder of Real Vision, shared some bitcoin investment news with Bostjan Usenik in a recent interview. He said that many institutional investors are ready to purchase the leading crypto asset.
With every institution he has spoken they have shown some signs or a level of preparedness to buy Bitcoin. Pal also added that the approval of a BTC ETF would also go a long way in changing how the industry operates.
Pal states that bitcoin is an asset that was previously missing in the financial industry’s history. The coin has proved itself in a five to ten years journey that it is the best-performing asset.
Pal says that “the institutions have not yet gotten fully into the crypto world.” According to him when they eventually do, it is going to be massive for the fast-moving asset.
In the interview, he said that the demand for bitcoin by institutions like PayPal, CashApp, Grayscale cannot be fulfilled by considering its current level of supply.
The big institutions are piling up and holding bitcoin as they expect that the price of bitcoin would keep rising. As a result, there is almost no supply of the coin; instead, the demands for it keep rising.
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