Analysts at Wall Street Banking giant JPMorgan are predicting an increase in institutional Bitcoin (BTC) investment from insurance companies and pension funds. In recent months, BTC has become something of a coveted investment vehicle on Wall Street with several publicly-listed firms electing to hold the largest crypto by market capitalization as a treasury reserve asset amid fears of further currency debasement.
According to Bloomberg, the recent Bitcoin investment by US Insurance giant Massachusetts Mutual signals growing BTC interest by a vast selection of institutional players. As previously reported by BTCManager, MassMutual put up $100 million to buy Bitcoin earlier in December.
An excerpt from Panigirtzoglou’s analysis reads:
“MassMutual’s Bitcoin purchases represent another milestone in the Bitcoin adoption by institutional investors. One can see the potential demand that could arise over the coming years as other insurance companies and pension funds follow MassMutual’s example.”
“MassMutual’s Bitcoin purchases represent another milestone in the Bitcoin adoption by institutional investors. One can see the potential demand that could arise over the coming years as other insurance companies and pension funds follow MassMutual’s example.”
Source: https://btcmanager.com/jpmorgan-600b-institutional-investment-bitcoin/
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Topic: [2020-12-14] JPMorgan Predicts $600B Institutional Investment in Bitcoin (Read 116 times)
December 15, 2020, 04:28:59 PM
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