Bitcoin attracted the attention of Wall Street, and the admission price of institutional investors hit an all-time high of nearly $50000 again

On Tuesday, bitcoin hit an all-time high of nearly 50000. The soaring price of bitcoin has also drawn attention from Wall Street. J.P. Pinto, JPMorgan’s co president, said JPMorgan “will have to participate” in cryptocurrency. Companies and Wall Street institutional investors are warming up their attitudes towards cryptocurrency, with a large amount of money flowing into bitcoin trust funds. Bitcoin prices are expected to rise further as institutional investors end up. According to a report, a $150 billion investment arm of Morgan Stanley is considering getting involved in bitcoin as the price surge of the largest cryptocurrency has caught Wall Street’s attention, according to a report. Daniel Pinto, CO president of JPMorgan Chase & Co, recently said JPMorgan “will have to participate” in cryptocurrency. Pinto revealed that the demand of the company’s thousands of investment clients has not shown much interest in the special currency, but he thinks that sentiment will change. “If, over time, an asset class develops and will be used by different asset managers and investors, we will have to be involved,” he explained. There is no demand at the moment, but I believe there will be some time. ” Wall Street has become more interested in special currency, and Wall Street institutions are turning to cryptocurrency. Bank of New York Mellon plans to issue, hold and transfer bitcoin, which marks a key progress in the mainstream of cryptocurrency. MasterCard will begin to allow customers to use the specified cryptocurrency on its platform later in 2021, but does not specify which one. “We are now preparing for the future of encryption and payment, announcing that MasterCard will start supporting selected cryptocurrencies in 2021,” said Raj dhamodharan, executive vice president of digital asset products BlackRock has authorized two of its funds to invest in bitcoin futures, according to a January filing with the securities and Exchange Commission. BlackRock said it could use assets such as bitcoin derivatives under BlackRock strategic income opportunities and BlackRock Global Allocation Fund. In January, Tesla announced a $1.5bn investment in bitcoin, driving the latest rise in bitcoin prices. The company also said it plans to accept bitcoin as a payment method. It’s not a Wall Street company, but the market value of the electric car company is $780 billion, which means people will pay attention to where it’s putting their money. Listed companies such as MicroStrategy and Galaxy digital also hold large amounts of bitcoin. The surge in interest from institutional investors, with the bitcoin trust getting a lot of money flowing into the grayscale bitcoin trust (GBTC), suggests that institutional investors are becoming more interested in cryptocurrencies because of regulations in many companies that prevent them from buying tokens directly, analysts said. With the widespread adoption of bitcoin, grayscale’s asset management has grown tenfold in 2020, with billions of dollars invested in its trust funds. According to the company’s quarterly report released in January, institutional funds accounted for 93% of all capital inflows in the fourth quarter. Citing chain analysis, coindesk said the increase in the number of “whale wallets” holding at least 1000 bitcoin could also be a sign that institutional investors are buying the cryptocurrency. On Tuesday, bitcoin was once again close to the $50000 mark, rising to an all-time high of $49913 and then falling below $49000. Bitcoin fear and greed index read 95 on February 16, indicating that the market is in a state of extreme greed, up 2 points from the previous day. Bitcoin prices are expected to rise further as institutional investors end up. (source: Huitong)

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