BCA Research’s chief global strategist, Peter Berezin, predicted that Bitcoin’s Achilles heel will begin to scare off corporate investors off and cause governments to erect more obstacles to it success. The first to flee will be environmental, social, and governance-focused funds he said, adding that they will shun companies involved with Bitcoin, not just the cryptocurrency itself.
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Financial giants power Bitcoin’s $20,000 bull run
As institutions and big-name investors pile in, the first cryptocurrency passes a big psychological milestone
The long-awaited Dec. 16 milestone follows a string of high-profile investors and financial firms jumping very publically into bitcoin. This includes Wall Street legends Stanley Druckenmiller and Paul Tudor Jones, Mexican billionaire Ricardo Salinas Pliego, and CNBC “Mad Money” host Jim Cramer, who have all revealed bitcoin investments this year.
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Markets Report: Bitcoin in fresh $19,500 rejection as “critical range” holds
Momentum is building but so far $20,000 resistance keeps Bitcoin bulls firmly in check during trading
Bitcoin continued to battle final resistance near $20,000 on December 15 as pressure between buyers and sellers rocked the market. Data from price trackers including CoinMarketCap and TradingView followed Bitcoin as it retested $19,500 resistance, only to receive another instant rejection.
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168-year-old MassMutual's marketing focuses on its history—thus ads with the oldest U.S. lighthouse, Boston Light—but it's buying BTC for the future (Photo: Pickist)U.S. insurance giant’s $100M BTC investment a milestone in institutional adoption: JPMorgan
A JPM Managing Director said if pension funds and insurers in the U.S., euro area, U.K., and Japan allocate 1% of assets to bitcoin, demand would grow by $600 billion; Mad Money’s Jim Cramer jumps in
In a recent note to investors, Panigirtzoglou said that the recent acquisition of $100 million worth of Bitcoin by United States-based insurance giant Massachusetts Mutual Life Insurance is a rather important event for the story of the asset. “MassMutual’s Bitcoin purchases represent another milestone in the Bitcoin adoption by institutional investors," said Panigirtzoglou. "One can see the potential demand that could arise over the coming years as other insurance companies and pension funds follow MassMutual’s example.”
