Bitcoin’s Often Overlooked OTC Market
Hey guys,
Speaking of institutional money, it’s worth keeping in mind that even though price is stagnant with exchange trading volumes down, it doesn’t mean that big money isn’t still in full accumulation mode.
I found this Institutional Investors Are Using Back Door for Crypto Buys article on the subject really interesting. Here’s an extracts:
“Buyers such as hedge funds have replaced high-net-worth individuals as the biggest buyers of large swaths of digital coins worth more than $100,000 through private transactions, according to Bobby Cho, global head of trading at Cumberland, the Chicago-based cryptocurrency trading unit of DRW Holdings LLC, which handles the over-the-counter purchases.”
It’s behind the scenes that these last few months have been so productive in the crypto space. Infrastructure and the ability for institutional money to come into the space has been epic.
Just wait until price is allowed to be realigned.
Peace ✌🏻.
@forexbrokr | Steemit Blog
Forex and Crypto Market Musings.
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The 'real game' with anything in finance and markets is always happening behind the scenes. I have no doubts a lot of large institutions are well and truly heavily invested in this market. Only when it is convenient for them they will reveal their hands.
Thanks for this, was wondering what was happening with crypto's. Whatever is happening in OTC seems to be the logical next step, considering the attitude banks have taken in countries like mine.