Institutions Buying Crypto Doubled In 2020
Plus a new database of crypto investors
Happy Tuesday, Blockfolians
The Lede
Last week, Goldman Sachs broke from the trend of institutions cozying up to bitcoin to spout a bunch of 2016-era FUD and claim that it was not an asset class.
Well, a new report from Fidelity Digital Assets begs to differ. According to the report
[A]lmost 80% of investors surveyed finding something appealing about the asset class…22% of U.S. respondents invested in digital assets have exposure via futures, which is a substantial increase relative to 9% of U.S. investors surveyed in 2019.
Additionally, the report found that 36% of respondents – 279 institutions in the U.S. and Europe - were already invested in digital assets.
In other words, institutional interest in this space is growing, and growing significantly.
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Highly Relevant Reading
Chinese state media accuses Binance of allowing crypto trading in the country
Brave has partnered with K-Pop sensations BTS on a limited edition browser
The US Marshalls are looking for a firm to custody and sell seized crypto
Bitcoin price volatility has hit a 3-month low
Community Commentary
CoinList’s Regan Bozman has put together an amazing open resource about crypto investors
This is one hell of an endorsement from the front lines
A Really Big Number We Should Be Paying Attention To
$13,000,000,000
That’s the amount of liquidity the Saudi Arabian central bank just injected into national banks, in part using blockchain
Final Thought
Will Robinhood trading spill over into crypto?
