Reprinted from hundreds of authors: the answer
As the price of bitcoin continues to decline, some suspicious traders are beginning to worry that institutional investors are already estranged from the encrypted currency market. However, it is reported that the “war fund” of Grayscale has continued to increase, and institutional investors’ interest in encrypted assets has not been dissipated. It makes people more aware that institutional investors have seen the great value of the encrypted currency, and the market is beginning to show signs of bottoming.
Grayscale holds 203 thousand BTC
According to a recent study of Diar, an encrypted currency analysis company, digital money investment company Grayscale hoarded a large amount of bitcoin for its GBTC. GBTC allows investors to buy managed bitcoins in the OTC market in the United States.
The number of bitcoin holdings, which belongs to DCG, has increased by 30 thousand and 600, and is currently holding 203 thousand BTC, reaching nearly 1% of the total bitcoin.
As you can see from the above picture, Grayscale’s bitcoin holdings are increasing every month. The steady rise in its bit of bitcoin holdings shows that the flow of money into the market through credible third parties seems to have released a positive signal.
Institutional investors have never given up
The encrypted money business of a number of subsidiary companies in DCG still rises. For example, CEO Michael Moro of Genesis Trading said the company’s lending service was warmly welcomed. Over the past 6 months, more than 60 institutions have applied for encrypted money loans in the form of dozens of digital assets, which amounted to $553 million.
Moro says that although most institutions have already paid off loans, there are still 130 million dollars in active loans, and the number has been growing in just 7 months after the service was opened. This means that the declines in the encrypted money market do not affect the participants in these industries.
Institutional investors’ interest in encrypted money has not been completely ignored, and a large number of institutions and encrypted currency innovators have begun to launch products, services and platforms for high net value customers and Wall Street. For example, NASDAQ recently announced the introduction of bitcoin and “encrypted currency 2” futures contracts with VanEck (bitcoin ETF applicants).
Fuda, with 13 thousand institutional customers, has also announced the establishment of a digital asset division, which aims to provide top – Top encrypted currency clearance and transaction services.
The value of the encrypted currency is undeniable
The space for the development of bitcoin and other encrypted currencies is very large. Last week, Tom Lee, which made a lot of hyperbole forecasts compared to the price of the currency, said that the value of the bitcoin chain was $1 trillion and 300 billion, 2.5 times that of PayPal, proving the persistence of the innovation.
He said the profit space in the field of encrypt money remains large. A single BitMEX company could generate $1 billion 200 million in revenue in the 2018 fiscal year, exceeding the parent company of the Hongkong stock exchange and NASDAQ. Profitability alone is enough to motivate investors to continue to invest in encrypted currencies and related projects.
Jackson Palmer, the founder of the dog currency, said that the encrypted currency would continue to maintain its intrinsic value even if it was not able to take the express train on Wall Street. The Adobe developer Palmer says the lightning network and the Plasma and other underlying projects can help “Encrypt money to fight back” and let the central revolution fire continue to burn.
Palmer is not the only one to oppose centralization, and the ether Fang co – founder Vitalik Buterin, well-known VC Marc Andreessen, and Edward Snowden believe that the encrypted currency is better than the traditional central institution.