Institutional Money Observer - page 2.

Toxic2040

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Quote from: gentlemand on August 26, 2020, 11:42:27 AM

I thought it would be interesting to have a thread collating info regarding the heavyweight players entering Bitcoinland as I expect it to be a trend that's going to ramp up rapidly and these things often get lost in the noise.

Here's one to get the ball rolling - https://www.forbes.com/sites/michaeldelcastillo/2020/08/26/fidelity-president-files-for-new-bitcoin-fund

Fidelity have just filed for a new fund dedicated to Bitcoin. Few details as of yet but the train is clearly considering leaving the station.

What have you spotted out there?

do we have IMOsMerits here?

anyway....

+1 for the thread concept...I find this fascinating.

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Its hard to gauge institutional interest much of the time as I think most will take a position long before any type of announcement...for obvious reasons I would say.

That being said I do find it interesting that www.nasdaq.com has a entire page devoted to bitcoin(they are calling it cryptocurrencies but I think we all know what they mean)

https://www.nasdaq.com/news-and-insights/topic/markets/cryptocurrencies

A couple of articles of note.

https://www.nasdaq.com/articles/energy-giant-equinor-to-cut-gas-flaring-with-bitcoin-mining%3A-report-2020-08-28

Quote

Equinor is a state-owned multinational based in Norway and ranked as the 11th largest oil and gas firm globally.

This multinational is funding https://www.crusoeenergy.com/ and their DFM or digital flare mitigation technology.

https://www.prnewswire.com/news-releases/crusoe-energy-systems-announces-70-million-in-funding-for-expansion-of-digital-flare-mitigation-services-300970514.html

A interesting application and I can tell you from first hand experience that there are many many flare stacks out there.

This illustrates how I believe things will play out with many institutions at first. They will try to enter on the edges...into developing markets that can generate a position without directly purchasing large amouts OTC or on exchange. Others will pile on and a cascade event is likely to happen imo. Its only a matter of time.

Juggy777

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Quote from: slaman29 on August 27, 2020, 08:07:06 AM

This one is a bit old (this year) but remember the rich dad poor dad guy? Kiyosaki. Yes, I know he doesn't seem like a heavyweight guy but my parents read his famous book and listened to him a lot, so if a guy like him says go Bitcoin, you have a whole generation of people who trust him and who might listen. Pension and retirement funds right there.

@slaman29 yes I too have read his books and read his tweet about encouraging people to buy Bitcoins, but so far can’t see any major effect of his tweet on bitcoin prices.

Quote from: DeathAngel on August 27, 2020, 04:18:06 PM

This could be a very interesting thread as the current cycle plays out. We possibly won’t see real institutional FOMO until 2021 but once they get interested it’ll be like a stampede. They are not going to want to miss out on bitcoin’s next crazy run.

@DeathAngel considering the pandemic and economy crashing I believe that it’s only a matter of time before they turn their attention towards bitcoins, because even in this pandemic bitcoins has given good returns.

Sources:

https://www.reuters.com/article/us-health-coronavirus-bitcoin-graphic/speculative-bet-or-inflation-hedge-bitcoin-in-the-coronavirus-crisis-idUSKCN2232BE

https://cointelegraph.com/news/buy-bitcoin-before-major-banking-crisis-rich-dad-poor-dad-author

DeathAngel

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This could be a very interesting thread as the current cycle plays out. We possibly won’t see real institutional FOMO until 2021 but once they get interested it’ll be like a stampede. They are not going to want to miss out on bitcoin’s next crazy run.

gentlemand

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Quote from: bitgolden on August 27, 2020, 12:59:54 PM

but at the end of the day this is bitcoin and they can't ruin bitcoin because it is decentralized and nobody has power over bitcoin.

While they can't touch the core of it, they certainly can screw with the price and acceptance. Fractional reserve/ paper Bitcoin is the one everyone's waiting for. They've never not done it in any other market so I can't see any reason why they'd make this a special case.

The difference between Bitcoin and everything else is that it's instantly verifiable and deliverable and anyone can store and trade it themselves. However it's pretty clear many people don't give a shit about that and Wall St will run with it.

bitgolden

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It is definitely a great help to see these big institutions getting into crypto, the way our economy works right now in crypto is the fact that we need buyers and who else would be more awesome than corporations who could buy into it in billions. Now, I know some people do not really like them because they are the reason why we got away from the fiat and they are the reason why regular financial system in the world doesn't work at all, but at the end of the day this is bitcoin and they can't ruin bitcoin because it is decentralized and nobody has power over bitcoin.

Could they change laws regarding crypto? Sure they can, but we come from being banned and everybody thought we were used for drugs and mercenaries so I doubt they could make it any worse, which means they are welcome here.

slaman29

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This one is a bit old (this year) but remember the rich dad poor dad guy? Kiyosaki. Yes, I know he doesn't seem like a heavyweight guy but my parents read his famous book and listened to him a lot, so if a guy like him says go Bitcoin, you have a whole generation of people who trust him and who might listen. Pension and retirement funds right there.

exstasie

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Quote from: gentlemand on August 26, 2020, 11:42:27 AM

Here's one to get the ball rolling - https://www.forbes.com/sites/michaeldelcastillo/2020/08/26/fidelity-president-files-for-new-bitcoin-fund

Fidelity have just filed for a new fund dedicated to Bitcoin. Few details as of yet but the train is clearly considering leaving the station.

Is there anything that makes it fundamentally different (or more likely to attract volume) vs. VanEck's Bitcoin trust, which has been a total flop so far? https://www.vaneck.com/institutional/bitcoin-144a/overview

Not even a million USD in net assets yet!

Minimum $100K investment almost guarantees Fidelity's fund is just for accredited investors, but at least it might attract real liquidity that way.

I'm a lot more excited for something like an ETF that will be simultaneously accessible by mainstream retail investors. The post-pandemic market showed retail investors can be a very powerful force in the market.

gentlemand

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I thought it would be interesting to have a thread collating info regarding the heavyweight players entering Bitcoinland as I expect it to be a trend that's going to ramp up rapidly and these things often get lost in the noise.

Here's one to get the ball rolling - https://www.forbes.com/sites/michaeldelcastillo/2020/08/26/fidelity-president-files-for-new-bitcoin-fund

Fidelity have just filed for a new fund dedicated to Bitcoin. Few details as of yet but the train is clearly considering leaving the station.

What have you spotted out there?

Topic: Institutional Money Observer - page 2. (Read 408 times)