Bitcoin Booms and Blockchain is the Future

Big investors added $11.5 billion in bitcoin over the previous three months. Analysts say that institutional investors, such as Paul Tudor Jones and Stanley Druckenmiller, have been driving bitcoin’s record run but that is just part of a boom the world is yet to see.

We are slowly moving to Blockchain based platforms through Digitization of Assets and the increased tokenization of processes.

The world’s most popular crypto, bitcoin, hit a new high of $28,579 during trading on Wednesday, inching closer to a psychological level of $30,000. The price of the digital asset has nearly tripled year-to-date.

Guggenheim is among the institutional players that is validating bitcoin’s legitimacy as a reserve asset. Last month, the firm filed to reserve the right for 10 percent of its $5.3 billion Macro Opportunities Fund to invest in Grayscale Bitcoin Trust, a bitcoin-focused investment vehicle.

The Norwegian Government Pension Fund, also known as the Oil Fund, now owns almost 600 Bitcoin (BTC) indirectly through its 1.51% stake in MicroStrategy.

An open and public investment by such an entity would be a show of trust that could set off a frenzy of government activity. If institutional investment brought mainstream respectability to Bitcoin and other cryptocurrencies, imagine what the backing of a sovereign wealth fund or government would do?

The recent bull run has certainly started people talking, but compare the media attention in 2017 to this time around. It’s been limited, to say the least

The Easy Way to Make Money from Crypto

One reason is that this bull run has been driven primarily by institutional investors. This has often meant crypto news landing on the lesser-spotted business pages. The mainstream media’s attention has also, understandably, been elsewhere – pandemics and contentious presidential elections have a tendency to dominate the news cycle.

But there are signs this is changing. December’s new historical all-time high has brought with it a significant amount of positive coverage across major publications, including The New York Times, The Daily Telegraph, and The Independent.

The Securities and Exchange Commission this month accused Ripple Labs and its top executives of misleading investors in affiliated token XRP. While Ripple plans to challenge the accusation in the courts, the development underscores the prospect of stricter oversight of digital assets in the USA making non-American Cryptos, like Bitcoin, far more attractive.