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22 March 2023
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Brian Kelly: Institutional money can drive bitcoin (BTC) above $ 20,000

Various data show that interest from institutional investors is growing. Partly because of the increasing number of institutional-level investment products, bitcoin (BTC) will be able to reach a new high in two years, said Brian Kelly, crypto industry expert, in an interview with CNBC’s “Fast Money”.
In the interview, he says that in the coming years “the institutional adoption of crypto can raise BTC to over $ 20,000.” He cites various developments, such as Fidelity, which is increasingly showing interest in the crypto market. The company even has a special crypto department: “Fidelity Digital Assets”.

Bitcoin is up more than 30% this month and @BKBrianKelly says it could hit new highs by this date … pic.twitter.com/afC58AqIGW
– CNBC & # 039; s Fast Money (@CNBCFastMoney) April 10, 2019

Alex Krüger, a well-known bitcoin trader with almost 30,000 followers on Twitter, also points to an increase in interest. Krüger uses a graph to show that the volume of CME’s bitcoin futures has never been so high:

Bitcoin. Institutional money is here. pic.twitter.com/ErWjz1vcDW
– Alex Krüger (@krugermacro) April 10, 2019

In February, the Global Blockchain Business Council (GBBC) also conducted a survey in which large investors were asked a number of questions about cryptocurrency. For example, 41% of the respondents would plan to participate in an Initial Coin Offering (ICO). In addition, around 19% expect crypto to be a normal investment option in 2021.
The reason that most institutional investors often stay away is mainly due to the fact that the crypto industry is still unregulated in many areas. And since this type of investor often invests with large sums of money, trading via a regular cryptocurrency exchange is too risky.

With current developments, however, it seems only a matter of time before we will see a large influx of institutional investors. And the institutional investors who have already stepped in, according to Krüger, stepped in for the longer term. To conclude with Krüger’s words: “Bitcoin. The institutional money is here. “

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