Mike Novogratz, a billionaire investor, claims that investors are now "lining up" to buy any BTC price drop they see. According to him, the rise to a new all-time high of $53,000 this weekend was driven by retail investors. He also noted that bitcoin's reputation has increased in recent months as a result of institutional investors. At least $40 billion of the $380 billion earmarked for American recipients will be invested in bitcoin and stocks.