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JP Morgan Analysts Say Institutions Are Purchasing Bitcoin As A Long-Term Investment At A Growing Rate
Summary: JP Morgan analysts said institutions are purchasing Bitcoin at a stronger pace this quarter than last quarter and may play a larger role in price movements moving forward. In the “Flows & Liquidity” report authors Nikolaos Panigirtzoglou, Mika Inkenen and Ekansh Agarwal wrote that institutional investors are looking at Bitcoin as a long-term investment, pointing to ...
JP Morgan analysts said institutions are purchasing Bitcoin at a stronger pace this quarter than last quarter and may play a larger role in price movements moving forward.
In the “Flows & Liquidity” report authors Nikolaos Panigirtzoglou, Mika Inkenen and Ekansh Agarwal wrote that institutional investors are looking at Bitcoin as a long-term investment, pointing to the quarter three growth of investment in Grayscale's Bitcoin Trust which primarily serves institutional investors.
In quarter three, retail customers bought $1.6 billion worth of bitcoin using Square’s Cash App, some three times more than what was invested in Grayscale’s bitcoin product.
By Emily Mason
Tags: Bitcoin,BTC,Crypto Analysts,JP Morgan
Link: JP Morgan Analysts Say Institutions Are Purchasing Bitcoin As A Long-Term Investment At A Growing Rate [Copy]
