As bitcoin adoption rate (distribution rate) has recently been at its highest level, institutional investors' demand for investment in cryptocurrency has also exploded.
Coinbase, the U.S. Cryptocurrency Exchange, said on the 23rd (local time), "Currently, the amount of crypto assets managed on behalf of institutional investors is $20 billion, which has increased by about $14 billion since April this year. Through this, we have confirmed the explosive inflow of institutional investors into the crypto market.
"Sometimes timing is everything," said Bret Tejpaul, head of Coinbase's agency coverage. The
<a href="
bybit.or.kr
">바이비트</a> industry is experiencing phenomenal timing right now," he added.
In this regard, Catherine Coley, CEO of China-based Cryptocurrency Exchange BinanceUS, said, "Unlike 2017, the surge in the number of real results and verification has been largely attributed to the increase in macro investors' interest in major <a href="
ftx.imweb.me/
">FTX거래소</a> currencies as bitcoin has been added to the corporate balance sheet."
In the meantime, Michael Novogratz of Galaxy Digital raised a new bitcoin fund in Canada, and global companies such as "Square" and "Microstrage" were interested in bitcoin.
In fact, U.S. asset manager VanEck said in a recent report, "The volatility of bitcoin prices has been lower than 29 percent of the shares included in the U.S. S&P500 index this year. In addition, based on quarterly data, the volatility of BTC prices was similar to that of 22 percent of stocks including S&P500.
"Bitcoin is perceived as an emerging asset with high volatility outside of the traditional stock market and capital market, but in reality it shows a level of stability similar to that of global conglomerate stocks. "There is no BTC-based Exchange Traded Fund (ETF) in the United States yet, but data comparison analysis shows that BTC-based ETFs may exhibit a level of variability similar to those related to S&P500," he explained.
Meanwhile, market research firm Research & Market said in its recent report, 'The Growth Trend and Forecast of Cryptocurrency Market', that "Bitcoin adoption rate (distribution rate) is at its highest level ever. BitCoin is recognized as the most leading crypto-currency and 'safe asset' for macro-economic risks (currency inflation)."
Research & Market explained, "Currently, BTC adoption rate of coin-related product developers, mining companies, cloud companies, crypto wallet service companies, and payment and transaction solution providers are at an all-time high."
