Ivan on Tech Academy provides latest insights and reports about the blockchain industry.
The recent week’s Bitcoin price rally highlights the changing appetite for Bitcoin and cryptocurrencies. A mere decade ago, you could have been laughed at for suggesting that your boss or company should consider investing in Bitcoin. Until recently, cryptocurrency was not even considered a legitimate investment or asset class, and unworthy of focus. However, times are changing, rapidly. Today, there are several publicly-traded companies invested in cryptocurrency.
At the time of writing, more than 4% of all Bitcoin in circulation is held by institutions. Largely, this is a hedge against inflation. Institutions are scooping up more Bitcoin than can be mined each day, leaving many crypto exchanges dry. The scarcity of Bitcoin is being felt by traders and investors on all steps of the ladder. Nevertheless, the fact that large publicly-traded companies are investing in cryptocurrency can be seen as a bellwether of the growing interest in the sector.
In this article, we...
Bitcoin is without a doubt making a big splash in institutional investment circles. Specifically, news stories are pouring out daily about institutional investment firms and regulators enacting new policies and partnerships to assist in the process of blockchain technology integration into their businesses and crypto adoption.
However, this has not always been the case. Rather, institutional investors were initially reluctant to embrace crypto. There have been several large companies such as PayPal, Grayscale, and Visa - just to name a few - that in the past years have publicly stated their disliking, or misunderstanding of Bitcoin, and written it off as a scam. These companies, amongst others, have since been quietly working in the background to invest with hopes to regain first-mover advantages, before publicly stating they are now investing or partnering with cryptocurrency projects.
Blockchain in enterprise and growing institutional adoption of Bitcoin is a significant step...