Grayscale hits $13B: Why Bitcoin institutional demand soaring at $19k is bullishBTC $19,491 (+1.7%) • ETH $591 (+1%) • XRP $0.48 (-2.6%)
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The assets under management (AUM) of Grayscale achieved $13 billion, which is indicative of the large influx of capital into Bitcoin (BTC). The continuous increase in institutional demand for Bitcoin as the price hovers at $19,000 is optimistic for two reasons. First, it means that there is consistent demand despite Bitcoin nearing a key resistance area. This shows that institutions are accumulating without the fear of a massive corrective phase at the all-time high. Second, it shows that the trend of institutions allocating a fraction of their portfolios into Bitcoin is being sustained. Ad 📈 Earn 8% APY on Bitcoin & 9 more crypto assets and 12% on Fiat & Stablecoins. Compounding interest, paid out daily. Trending … 🚜 DeFi Tokens • 🔮 Oracle Tokens • 📈 Biggest Gainers • 💵 Stablecoins More news ⏬US regulators say they “don’t want to inhibit” DeFi developmentUS regulators are scratching their heads with regards to what to make of the multibillion emerging market, but there’s a positive sign for the space. These are the investors backing MicroStrategy’s Bitcoin investmentMicroStrategy’s ambitious $650 million Bitcoin investment wouldn’t have been possible without the backing of the billion-dollar company’s investors. JPMorgan explains how easy it is for Bitcoin’s market cap to explode by hundreds of billions2020 has been a year of Bitcoin adoption. Ethereum NFTs back in vogue as a collection of digital art sells for $777,000After the decentralized finance correction began in September of this year, non-fungible tokens (NFTs) suddenly rocketed into the limelight. Control your wealthAd: A trusted and accessible wealth management ecosystem powered by blockchain technology, SwissBorg puts your wealth back in your hands. 🗞 Got a story tip? Email tips@cryptoslate.com Crypto market dataFor more pertinent market data, please see: Connect with usDisclaimer: None of the content in this newsletter is meant to be financial advice. Please do your own due diligence before taking any action related to the content within this article.
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