I thought that bitcoin has to be SEC approved in order to be bought by institutional buyers.
Can you mention a few big institutional buyers that buy bitcoins?I don`t think so.
Those are only rumors and i don`t trust them.Anyway,you are right about Asia.
Asian countries (without China)are more cryptocurrency friendly than before,because they want to
accept the cryptocurrency users that are runing away from China.
Can you mention a few big institutional buyers that buy bitcoins?I don`t think so.
Those are only rumors and i don`t trust them.Anyway,you are right about Asia.
Asian countries (without China)are more cryptocurrency friendly than before,because they want to
accept the cryptocurrency users that are runing away from China.
It depends on the institution. Pension funds must only invest in SEC approved securities by Federal law. And mutual funds listed on the American stock exchanges have to abide by SEC rules too.
But because hedge funds are private, they have no rules.
In the rest of the world the rules arn't as strict. You were looking for an institutional investor - here's one:
https://www.bloomberg.com/news/articles/2017-11-22/gold-fund-joins-bitcoin-frenzy-as-bulls-see-prices-at-10-000
Old Mutual is a British investment house. Here is a quote from the article:
Quote
The Old Mutual Gold & Silver Fund, which manages $220 million of mostly precious metal equities, is jumping on the bitcoin wagon.
The fund started buying in April with a mandate to allocate as much as 5 percent to cryptocurrencies, according to its manager, Ned Naylor-Leyland. The idea is to take profits from bitcoin as it advances to reinvest in gold and silver assets, he said in an interview on Nov. 16.
“Bitcoin was explicitly designed to be digital gold,” said Naylor-Leyland. “So if you’re going to have a small proportion of a fund in bitcoin, it should be in a gold fund, because that’s exactly the point. It’s about bringing the ownership of disciplined money into the modern world. Bitcoin is paving the way for the reintroduction of gold as global money.”
The fund started buying in April with a mandate to allocate as much as 5 percent to cryptocurrencies, according to its manager, Ned Naylor-Leyland. The idea is to take profits from bitcoin as it advances to reinvest in gold and silver assets, he said in an interview on Nov. 16.
“Bitcoin was explicitly designed to be digital gold,” said Naylor-Leyland. “So if you’re going to have a small proportion of a fund in bitcoin, it should be in a gold fund, because that’s exactly the point. It’s about bringing the ownership of disciplined money into the modern world. Bitcoin is paving the way for the reintroduction of gold as global money.”
Notice that they started investing in bitcoin in April 2017, the month that the price of bitcoin exceeded the price of gold. I expect they have done very nicely out of their investment and their fund holders are pleased.
