When an interviewer asked Miller if he is as excited about the coin as he was in early November, when it was worth under $15,000, he answered, “absolutely. One of the things that’s interesting about Bitcoin is that it gets less risky the higher it goes, and that’s the opposite of what happens with most stocks.”
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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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Chainalysis: A worsening shortage is behind bitcoin’s skyrocketing price
Big and smart money investors are buying up and holding onto BTC far faster than miners can produce it as the first cryptocurrency comes into its own as an inflation hedge
The amount of liquid bitcoin—that held by wallets that trade as oppose to hold—"is similar to what it was during the 2017 bull run,” the blog said. “ But the amount held in illiquid wallets is much higher, currently representing 77% of the 14.8 million Bitcoin mined that isn’t categorized as lost... That leaves a pool of just 3.4 million Bitcoin readily available to buyers as demand increases.”
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Fidelity Digital Assets' president, Tom Jessup, says big investors increasingly see a new asset class emerging (Photo: Fidelity).Digital assets appeal to 80% of institutional investors, poll reveals
Hedge funds, financial advisors, and high net worth investors said they appreciate that digital assets are uncorrelated to other asset classes and have high potential upside
Some four-fifths of institutional investors polled recently by Fidelity Digital Assets said they found the asset class appealing, and more than 60% of them have made a direct purchase. But roadblocks remain.
