Bitcoin price surged significantly through the past few months. Therefor many crypto lovers are in doubt to buy Bitcoin and enter market or thinking that perhaps it is too late to join the market. Maybe it is your question as well that is it too late to buy bitcoin? Or even you think that it would not be easy as before earning money by investing in Bitcoin.
In order to answer to this question, we study the institutional investors’ movements in Bitcoin market. Statistics show that institutional investors are just joining to this market one by one and buying Bitcoin as a store of value. However, bitcoin price is still considered expensive, institutional investors are still believing that its price has the potential to rise even more.
As a result, many institutions are just joining the game or previous buyers are adding more Bitcoins to their investment.
Institutional investors are buying Bitcoin aggressively
Institutional investors are buying Bitcoin aggressively. Apparently, they are convinced that Bitcoin could be the safest option to store of value.
For instance, Marathon Patent Group, a Bitcoin mining company based in Nevada, recently bought $150 million worth of Bitcoin. MicroStrategy also bought $425 million worth of Bitcoin in September 2020. Now, Marathon Patent Group is the third largest institution, which invested in Bitcoin.
Is It Too Late To Buy Bitcoin?; The largest Bitcoin investors
Kevin Rooke, a technology researcher, figured out that institutional investors are holding around $3.6 million worth of Bitcoin, which is 400% more than past 12 months.
In a comparison, institutions had 20,000 BTC in 2019. However, this amount suddenly jumped to 105837 BTC. Currently, the largest Bitcoin institutional investors are Marathon Patent Group, Galaxy Digital and MicroStrategy.
Apparently, institutional investors are also believing that Bitcoin is the best choice as a store of value and will replace gold in the near future.