Bitcoin (BTC), the cryptocurrency for institutional investors – it’s always better than the asset with no intrinsic value or the great Ponzi scheme.
These 8 companies have bet on Bitcoin, PayPal is turning into a crypto-wallet, BTC is gradually entering the balance sheet of companies.
Exchanges dedicated to institutional investors like the Chicago Mercantile Exchange (CME) are taking advantage of the current wind blowing on the markets.
OKEx’s challenger CME
The Chicago Mercantile Exchange is now the second largest exchange in the futures market Bitcoin. The CME dethroned the platform Binance Futures.
The market leader remains OKEx, who is one of the oldest players in this industry. The total amount of long and short contracts would amount to $ 790 million on the CME, $ 19 million less thanOKEx.
The analysis platform Skew indicates that the CME had recorded a significant increase in the number of its futures contracts.
This interest could result in an increase in the price of Bitcoin : A few days after this announcement, the price had jumped 9% and exceeded 13,000 USD.
The futures market, once dominated by OKEx and BitMEX, saw the arrival of a new generation of exchanges such as Binance Futures, Bybit and Huobi.
Bitcoin song attracts institutional investors
The constant increase in open interest on futures contracts BTC is an indicator of increasing institutional demand.
The overall volume of transactions in the futures markets has multiplied, particularly in those where institutional investors are the main target.
Net assets under management of Grayscale have, for example, increased by 300 million dollars in one day, although it is quite possible that this increase is linked to the rise in the price of Bitcoin.
The CEO of Social Personal-Financial.com, Chamath Palihapitiya, believe that more and more institutions will support the BTC, especially after the announcement of Paypal.
Bitcoin would be adopted primarily as a long-term allocation instrument and as a hedge against inflation.
Will BTC futures markets launch new products by the end of this year 2020, if BTC peaks to even higher levels, or even registers new ATHs above $ 20,000? The most anticipated institutional investors are probably the banks, a turnaround that would displease the dollar but would be historic for Bitcoin.
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