2020 is turning out to be quite a year for Bitcoin. After the 55% drop on 12 March, Bitcoin has bounced back impressively and caught the eye of more institutions on its way up.
There is an estimated $6.85 billion worth of Bitcoin on corporate balance sheets to date. And with the macro set up looking like a perfect storm for Bitcoin, many believe this year will be nothing but a preface for 2021.
Wasn’t 2018 Supposed To Be The Year of The Institution?
2018 was touted as the year institutional money would flood Bitcoin and the crypto space at large.
After a massive run up to Bitcoin to USD $20,000, and the cryptocurrency market reaching almost $800 billion in late 2017, the year of promise quickly turned into a long, hard crypto winter.
But the truth is, the infrastructure wasn’t there for institutions to get involved back then. There were hardly any regulated exchanges or custody services, and although Bitcoiners frown upon that, institutions demand it.
Now we have the infrastructure, and more is on the way. And the timing couldn’t be better for Bitcoin. Read More