Galaxy

Bitcoin

Read

Spot

<p class="is-style-lead">The crypto industry has witnessed a massive bear storm over the past 18 months as high inflation threats finances. Despite the red market conditions, a recent report by CryptoQuant suggests that Bitcoin’s (<a href="https://crypto.news/price/bitcoin/">BTC</a>) institutional adoption is on the rise.</p> 
<p>For instance, top fintech companies have accumulated significant BTC amounts over the past three years. According to the report, Microstrategy’s bitcoin purchases are worth almost $4 billion, while the BTC price is still down by 55% from its all-time high (ATH).</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">While waiting for the <a href="https://twitter.com/BlackRock?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@BlackRock</a> and <a href="https://twitter.com/Fidelity?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@Fidelity</a>'s <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Bitcoin</a> Spot ETF approvals, <br><br>Check out our report, Institutional Adoption 2.0. <br><br>Our head of research, <a href="https://twitter.com/jjcmoreno?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@jjcmoreno</a>, wrote about what could catalyze the next big bull run for <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$BTC</a> 9 months ago.<br><br>Link👇<a href="https://t.co/y7VI83ToXr" target="_blank">https://t.co/y7VI83ToXr</a></p>— CryptoQuant.com (@cryptoquant_com) <a href="https://twitter.com/cryptoquant_com/status/1673929732205993985?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">June 28, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p><a href="https://crypto.news/tesla-sold-none-of-its-321m-worth-of-bitcoin-in-q1/">Tesla</a>, Block (formerly Square) and <a href="https://crypto.news/galaxy-digital-anticipates-more-vc-funding-for-web3-businesses-in-2023/">Galaxy Digital</a> Holding have also been sticking to their bitcoin holdings despite the market’s high volatility.</p> 
<p> You might also like: <a href="https://crypto.news/tesla-sold-none-of-its-321m-worth-of-bitcoin-in-q1/"> Tesla sold none of its $321m worth of bitcoin in Q1 </a> </p> 
<p>Moreover, the report suggests that some top companies couldn’t adopt bitcoin due to regulatory unclarity. Still, the recent filings by the world’s leading asset management companies show a bullish momentum for digital gold.</p> 
<p>According to CryptoQuant, the next generation of Bitcoin institutional adoption will not only favor the firms but could also significantly impact clients.</p> 
<p>Since the US Securities and Exchange Commission (SEC) started welcoming bitcoin’s futures exchange-traded funds (ETF) in late 2021, companies such as BlackRock, Fidelity, Citadel, Charles Schwab, and even Nasdaq jumped in the digital asset industry.</p> 
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio">
 <div class="wp-block-embed__wrapper"> <iframe title="CRYPTO ADOPTION IS CLOSER THAN WE THINK!" width="1020" height="574" src="https://www.youtube.com/embed/j_qTjL1UluE?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe> 
 </div>
</figure> 
<p>Furthermore, the analysis suggests since the first round of institutional adoption helped to start a massive bull run in 2021, there is a great chance that another bullish momentum could be on the way.</p> 
<p>Data provided by CoinMarketCap (CMC) <a href="https://coinmarketcap.com/charts/" target="_blank" rel="noopener">shows</a> that the global crypto market capitalization has grown by 0.2% over the past 24 hours, currently at almost $1.18 trillion. SEC’s legal action against Binance and Coinbase brought the market cap down to nearly $1 trillion in ten days.</p> 
<p>Over the past two weeks, however, crypto investors have accumulated $170 billion worth of digital assets while the bitcoin price <a href="https://crypto.news/bitcoin-30k-institutional-interest-demand/">surpassed</a> the crucial $30,000 mark.</p> 
<p> Read more: <a href="https://crypto.news/bitcoin-might-be-bracing-for-bull-run-on-resurgence-of-smart-investors/"> Bitcoin might be bracing for bull run on resurgence of smart investors </a> </p>

More institutions will soon embrace bitcoin, report says

crypto.news

Други статии, публикувани на 28.06.2023 г.

NiceHash Boosts Mining Options with Support for NexaPoW Algorithm

FTX engages in talks to bring back international crypto exchange

Navigating the Web3 Revolution with Trust Wallet

The Best Fast-Payout Crypto Casinos of 2023

Popular Cryptocurrency Exchange Decided To Require KYC From All Users From Now On!

MicroStrategy Accquired 12,333 Bitcoins

Присъединете се към нашия безплатен бюлетин за ежедневни крипто актуализации!