POSITIVITY OF BITCOIN
Compared to Altcoins last year, institutional investors appear to have a more favorable opinion of Bitcoin. This perception may be a result of the retail runway speculation we witnessed with meme coins like Dogecoin and other meme coins. Institutional investors were deterred in 2021 by the widespread scams and rug pulls. This year, attitudes about Bitcoin and alternative cryptocurrencies have improved, and this suggestion has two components.
First, institutional investors are beginning to show interest in alternative currencies and to recognize cryptocurrencies as an asset class. With the recent profile of Fidelity and Blackrock, the biggest asset manager in the industry, we are beginning to see it. Fidelity recently opened its doors to Eth as a form of investment, and in April of this year, they also allowed clients to start investing in BTC. With Coinbase's assistance, Black Rock opened their doors to Bitcoin, and I wouldn't be surprised if they soon began accepting Ethereum as well.
Although they might be bullish, they might also be a little worried that Blackrock might buy up significant amounts of ETH and use staking to gain control of Ethereum. While pensions have stringent limitations on the kind of assets they could purchase, endowments and foundations may have opted to retain the fund in cash. Regarding the foundations' and Endowment's unfavorable attitude of cryptocurrency, the majority of them are elderly and quite traditional.
Because of the upside potential, technology, decentralization, and lack of governmental interference, institutional investors are drawn to cryptocurrencies. I believe institutional investors with large amounts of capital are aware that fiat currencies are depreciating and that any assets they have in the possession of a third party are not their own. The majority of cryptocurrencies, on the other hand, have a fixed supply that cannot be altered. You have complete control over your cryptocurrency using cryptocurrencies, and you may choose how and when to spend it.
It is interest Bitcoin is gain more attention from institutional investor. Thanks for sharing this interest content.