Institutional Investors Are Officially Entering the Cryptocurrency Market

November 23, 2018

 

Now that institutional investors are buying up Bitcoin, what will it mean for the cryptocurrency market?Much of the early draw to cryptocurrencies was the high “crypto” appeal. No governments back cryptocurrencies. Cryptocurrencies aren’t standardized against any material commodity. Institutional investors like banks and investment firms stay away from them. Right?

Institutional investors have stayed away from cryptocurrencies in the past, avoiding high volatility. Aside from the latest Bitcoin dip, major cryptocurrencies like BTC and ETH have been stable lately. As a result, some institutional investors have been gaining entry to the cryptocurrency market. Some transactions could have been done overnight. Other operations required more planning and show more intent for long term involvement. So, which institutional investors are getting involved? What are they up to? How will this affect the crypto market? Bloomberg reported that institutions had replaced individuals as the largest Bitcoin buyers. Institutional investors had entered the market through organizing transactions with Bitcoin miners. Specifically, “institutional miners”, who use fleets of computers to generate the digital currency.The article also identified some of the institutional miners involved in these transactions. There was also some speculation on how institutional investors would influence the market. What the report lacked were names of institutional investors involved in the transactions. It was also unclear what they intended to do with Bitcoin and Ether that they were purchasing.

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