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Institutional Interest In Bitcoin Spikes After Microstrategy's $425 Million Purchase
Summary: Shortly after business intelligence company Microstrategy purchased $425 million worth of Bitcoin the volume of Bakkt — a Bitcoin futures market — recorded an all-time-high trading volume. The increased volume suggests a spike in institutional interest in Bitcoin, popular crypto commenter Joseph Young noted in a tweet. Bakkt Bitcoin Monthly Futures recorded 15,955 BTC contracts on Tuesday, ...
Shortly after business intelligence company Microstrategy purchased $425 million worth of Bitcoin the volume of Bakkt — a Bitcoin futures market — recorded an all-time-high trading volume. The increased volume suggests a spike in institutional interest in Bitcoin, popular crypto commenter Joseph Young noted in a tweet.
Bakkt Bitcoin Monthly Futures recorded 15,955 BTC contracts on Tuesday, September 15, surpassing the previous record-high by 36%. LMAX Digital, which also primarily serves institutional investors, saw a spike and is today processing about $84 million per day, Skew data shows.
Grayscale Investments — often held up as the primary indicator of institutional interest in BTC — has also seen increased activity with the assets under management of the firm hitting an all-time-high of $6.2 billion on Wednesday, September 2.
By Emily Mason
Tags: Bakkt,Bitcoin,BTC,Grayscale Investments,Institutional Investor,LMAX Digital
Link: Institutional Interest In Bitcoin Spikes After Microstrategy's $425 Million Purchase [Copy]
