Bitcoin

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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-gains-momentum-with-pension-funds" rel="noopener noreferrer nofollow">Bitcoin Gains Momentum with Pension Funds</a><br></p>
<p style="text-align: justify">Anthony Scaramucci, the founder of SkyBridge Capital, shared his insights on <a href="https://en.bitcoinhaber.net/bitcoin-breaks-2023-record-with-38694-level" rel="noopener noreferrer nofollow">Bitcoin</a> adoption among U.S. pension funds during a recent CNBC Squawk Box interview. Scaramucci highlighted the increasing acceptance of Bitcoin by institutional <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank">investors</a> and expressed optimism about the cryptocurrency’s <a href="https://newslinker.co/" rel="noopener noreferrer nofollow" target="_blank">future</a>.</p>
<h2 id="why-is-institutional-bitcoin-adoption-rapidly-increasing">Why is Institutional Bitcoin Adoption Rapidly Increasing?</h2>
<p style="text-align: justify">Scaramucci pointed out that the adoption of Bitcoin by institutions is accelerating. He cited the Wisconsin State Investment Board’s $100 million investment in Bitcoin as a significant example. This move, according to Scaramucci, is likely to inspire other pension funds to consider Bitcoin investments.</p>
<p style="text-align: justify">He also emphasized that Bitcoin now has regulatory approval, enabling major financial entities to invest in it. This regulatory backing means Bitcoin is being integrated into long-term strategic asset allocations by institutional investors.</p>
<h2 id="what-impact-do-bitcoin-etfs-have">What Impact Do Bitcoin ETFs Have?</h2>
<p style="text-align: justify">On May 16, spot Bitcoin exchange-traded funds (ETFs) experienced inflows amounting to nearly $256 million, translating to 3,893 BTC. This influx spread across nine different ETFs, causing a significant stir in the cryptocurrency market.</p>
<p style="text-align: justify">Grayscale’s Bitcoin fund observed outflows of 839 BTC worth $55,200, while the Fidelity ETF saw an increase of $130.79 million, adding 1,989 BTC. This push brought total Bitcoin assets managed by Fidelity to 155,745 BTC, valued at over $10.24 billion.</p>
<p style="text-align: justify">Currently, Bitcoin’s price hovers around $65,540, following a brief rise above $66,000.</p>
<h2 id="practical-insights-for-investors">Practical Insights for Investors</h2>
<p style="text-align: justify"><strong>Key Takeaways for Investors:</strong></p>
<ul>
 <li>Institutional investments in Bitcoin are accelerating, indicating growing trust and potential for long-term gains.</li>
 <li>Regulatory approval for Bitcoin is paving the way for more substantial investments from major financial entities.</li>
 <li>Significant inflows into Bitcoin ETFs highlight increasing interest and confidence in the cryptocurrency.</li>
</ul>
<p style="text-align: justify">Scaramucci’s insights underscore that early adoption, though sometimes risky, can lead to substantial rewards over time. He advocates for a deep understanding of Bitcoin, including its whitepaper, history, and financial mechanics, to grasp its full potential. Early investors, despite facing initial challenges, are positioned to reap considerable benefits in the long run.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-gains-momentum-with-pension-funds" rel="noopener noreferrer nofollow">Bitcoin Gains Momentum with Pension Funds</a></h5>

Bitcoin Gains Momentum with Pension Funds

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