A wave, even a tsunami, of investment in Bitcoin? Rich institutional investors he clearly took advantage of itcrypto winter in 2022 and gentle recovery market for 2023 start investing in Bitcoin (BTC) and cryptocurrencies. In any case, it was observed Matt Houganchief investment officer (CIO) of By bitat a meeting of the most important professional investors in the United States.
Institutional advisors who have Bitcoin in their portfolio go from 10 to 70% in 2 years!
In a publication published on September 23, 2024, investment director Fr By bit he tells very interesting details about his participation in the event Barron’s Advisor 100 Summit organizes the financial magazine of the same name.
Surrounded by the top financial advisors in the US, Matt Hougan he was able to see their incredible development (and positions taken). bitcoin and crypto assets. During his speech, the Bitwise CIO actually asked, “By a show of hands, how many people in this room own bitcoins or other crypto asset in their wallet personnel ? “.
When he asked this question two years ago, during a session 2022 event hosted by Barron’s, only ” 10 to 20% » of these investment professionals raised their hands. But this year on September 20 2024during the latest opus of this gathering of institutional investors,” 70% counselors in the room they raised their hands “. Quite the progress!
“The Most Powerful People in Finance Are Finally Investing in Cryptocurrencies”
Matt Hougan meek his words (or lights upaccording to what they engage), which states that 70% of counselors have personally invested in cryptocurrencies. Because when the CEO of Bitwise asks them, “How many of them were able to allocate bitcoins? on the accounts of their (institutional) clients “, Matt Hougan explains that ” few raised their hands “.
PUSH reason ? It could be summed up as Gary Gensler and the SEC (Securities and Exchange Commission). Indeed, especially because of the very restrictive SAB 121 guidelines (Staff Accounting Bulletin No. 121), many banks and financial organizations cannot offer cryptoassets or almost none (a ridiculous ratio). But the wheel is turning for Matt Hougan, and maybe sooner than we think:
“Much.” of these large advisors work for broker-dealers who don’t even let them buy bitcoin ETFs yet (editor’s note: not yet listed on the stock exchange). But it will come. (…) One thing I’ve learned from my seven years at Bitwise is that advisors almost always allocate assets first on your personal accounts. Allocations for their (institutional) clients usually follow 6 to 12 months later. »
Matt Hougan, Chief Investment Officer of Bitwise
The Chief Investment Officer of Bitwise concludes by saying “that a wave of the most powerful people in finance end up investing in cryptocurrencies.” And when these advisors can be followed by their institutional clients, “things could they quickly become interesting »… What to do one day to reach $13 million for one bitcoinas in a very enthusiastic prediction Michael Saylor (founder of MicroStrategy)?