Happy Friday, Blockfolians
A few bits of institutional crypto news to catch you up on before you head into the weekend.
A JPMorgan survey of 3400 Macro Quantitative conference participants found that there is crypto is still seen as risky
Charles Schwab is reportedly reviewing potential partners to offer white labeled crypto brokerage services
40% of surveyed Goldman Sachs clients have crypto exposure
This last one is worth digging into a bit further. In addition to that top-level headline grabbing number, here are a few more juicy stats:
61% of respondents expected to increase their holdings in the next 12-24 months
54% think the price of bitcoin is going to be between $40,000 and $100,000 12 months from now, with 22% thinking its going to be greater than $100,000
While bitcoin was the most high interest asset to investors, 29% also expressed interest in ETH
In short, while this week might not have been great from a price perspective, the long term trend remains clear.
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Highly Relevant Reading
Bybit leaves the UK after FCA Derivatives ban
GBTC is trading at a 12% discount
Egyptians disobey their government to get into bitcoin
Bitfury to go public via SPAC merger
Nic Carter, continuing to fight the electricity consumption fight
Damn NFTs Damn
A Really Big Number We Should Be Paying Attention To
That’s the amount MicroStrategy just spent on 205 more bitcoin. Talk about buying the dip