According to Anthony “Pomp” Pompliano, Bitcoin (BTC) is seeing inflows from the chief investment officers of some “multi-billion dollar institutions”.
While this is not direct investment from funds — be it family offices, hedge funds, pensions, venture funds, or endowments — this is a strong step in the right direction for the cryptocurrency space.
You see, with time, the pro-Bitcoin attitude held by the heads of billion-dollar funds and institutions, coupled with infrastructure plays like Fidelity Digital Asset Services, will spread to the funds that they spearhead. And soon enough, the funds themselves will begin to directly own BTC.
Institutional Involvement in Bitcoin Has Begun
Pompliano isn’t lying, the trend of fund managers going crypto has already begun.
Yesterday, NewsBTC reported that a bet on Bitcoin helped the fund of Bill Miller, a prominent investor and economist, realize a 46% year-to-date performance. For those not versed in the world of traditional finance — 46% in just about seven months is absolutely insane, especially when the S&P 500 gained a relatively mere 7% in the same time frame.