Leading Industry Exec Says the Bitcoin Bull Case Is Clear as Day

Spread the love

Bitcoin is the best-performing macro asset of 2020, hands down. From the start of the year, the coin is up around 150%. And since the March lows, the leading cryptocurrency has gained around 450%.

But analysts think that institutional influence in the space will drive the market even higher.

The Institutional Influence on Bitcoin Will Grow as Bull Case Becomes Clear

Paolo Ardoino, CTO at Bitfinex, recently said that he thinks the extremely apparent Bitcoin bull case will force asset managers to allocate time and capital to this space:

“No amount of cynicism, disbelief or even fantastical thinking can obscure the compelling case for Bitcoin,” he said. “Global asset managers will continue to recalibrate their portfolios accordingly.”

Many others in the space have made this assertion, stating how the current macro environment makes not holding BTC almost irresponsible.

What is the Bull Case?

The Bitcoin bull case is believed to be largely related to the vast amount of monetary inflation taking place and the loss of dominance in the U.S. dollar.

As Paul Tudor Jones wrote in his famous research note/investor letter highlighting Bitcoin:

“One thing that piqued my interest from this list of assets, and that one day might be broughtto prominence by the GMI, is Bitcoin. Truth in advertising, I am not a hard-money nor a crypto nut. Iam not a millennial investing in cryptocurrency, which is very popular in that generation, but a babyboomer who wants to capture the opportunity set while protecting my capital in ever-changingenvironments. One way to do that is to make sure I am invested in the instruments that respond firstto the massive increases in global money. And given that Bitcoin has positive returns over the mostrecent time frames, a deeper dive into it was warranted.”

Bitcoin is expected to play an increasingly important role in the portfolios of global investors, both on a retail and institutional level.

RECOMMENDED READ:  Is Bitcoin call options priced between $100,000 and $300,000 indicate a bullish BTC price path?

It is believed that the cryptocurrency’s supply cap and its relative sovereignty relative to other store of value investments will make it extremely valuable in the years ahead.

Many in the Wall Street space have made this assertion over recent weeks, stating that they actually think BTC ousts gold in many aspects. Though, how much BTC will outperform gold by remains to be seen.

Some think that in this market cycle, Bitcoin’s market capitalization could surmount that of gold. For instance, the Winklevoss Twins from Gemini recently said on CNBC that they think Bitcoin could surmount gold’s market capitalization, which would price BTC at $500,000.

 304 Interactions,  4 today

READ ALSO:
Here was the moment Bitcoin surpassed $61k for the first time in history

The Bitcoin ($BTC) price burst through $61,000 for the first time in four weeks at 05:00 UTC on Saturday (April Read more

Why Bitcoin may be the future’s “base money”

Bitcoin's recent success has piqued the attention of numerous parts of the media as well as major institutions. According to Read more

Why are these traders now such an important aspect of Bitcoin’s market action?

The majority of Bitcoin's market movement this week has been dominated by crowd opinion. HODLers, as well as whales, retail Read more

Keep an eye on these main technical thresholds as Bitcoin – “The Beautiful Coin” approaches its all-time peak of $61,800.

Bitcoin has broken through the $61,000 barrier for the first time since early March, and markets are being bullish. On Read more

WisdomTree’s Bitcoin ETF Proposal is being reviewed by the SEC.

On Friday, the SEC issued a public notice stating that it would begin assessing and analysing asset manager WisdomTree's Bitcoin Read more

Senators chastise Apple for refusing to appear at a hearing on app store law.

The firm abruptly informed the antitrust panel that it would not be sending a witness. Apple is unable to participate Read more

Bitcoin to nil? Not as long as this Reddit user has $187K to spare.

The crypto community should breathe easy about Bitcoin's longevity — a single Reddit user has you protected. Bitcoin, the crypto Read more

Why Shapeshift’s CEO is against Bitcoin KYC standards

Erik Voorhees, CEO and Founder of Shapeshift, believes that the markets are in the process of “transforming” from analogue, fiat, Read more

This is how traders will earn up to 25% on Bitcoin while staying market neutral

With Bitcoin's price dropping below $60000 and expanded money inflows into altcoins and top DeFi tokens. It could be the Read more

Ebang refutes Bitcoin’s “China Hustle” allegations as its share price sinks 20%

A Nasdaq-listed Chinese Bitcoin mining company's stock dropped 20% after a damning short story exposed some suspected shady dealings. The Read more

Leave a Reply

Contact Us