The leading cryptocurrency, Bitcoin (BTC) drew lots of attention among retail and institutional investors following its recent price rally. Amid the growing interest in the crypto, many people, including JPMorgan strategists, believe more institutions will invest in BTC. Robert Kiyosaki, the popular Rich Dad Poor Dad author, made the latest prediction of incoming funds from institutional investors to Bitcoin. In accordance with his statement, the crypto price will skyrocket with more institutional adoption.
Robert Kiyosaki: Wall of Institutional Money Is Coming
The financial educator made his thoughts known in a recent tweet that confirmed he also holds Bitcoin. He recommended buying the cryptocurrency at the current price below $20,000, predicting that BTC’s next stop is $50,000. Robert Kiyosaki expects such a price by next year as he believes that more institutional money will flow into cryptocurrency by that time.
The Rich Dad Poor Dad author recently became one of the prominent Bitcoin advocates. In several tweets, he recommended holding Bitcoin, including gold and silver, against the declining value of the US dollar.
Institutional Bitcoin Adoption is Imminent
The Strategists at JPMorgan Chase, a financial services company in the United States, predict incoming institutional money in Bitcoin. They made the statement amid the reports that MassMutual now holds Bitcoin in its reserve. The billion-dollar US mutual insurance company invested $100 million in Bitcoin. On that note, JPMorgan said many pension funds and insurance companies are more likely to follow suit.
About $600 billion will flow into Bitcoin when these entities across the US, Europe, and Japan allocate one percent of their asset in Bitcoin, per the strategists. These predictions are worth keeping tabs on. However, it’s also important to note the adoption rate of Bitcoin this year by institutions, starting with MicroStrategy.
The publicly-traded business intelligence company invested more than $400 million in Bitcoin in this year alone. Per Bitcoin Treasuries, there are currently 15 publicly-traded companies holding the crypto.
Also, institutional digital assets investment platform Grayscale reports $13 billion net assets under management (AUM) today.
The crypto products on Grayscale continue to gain more funds as the institution show strong interest in crypto, especially Bitcoin. The Grayscale Bitcoin Trust product holds a significant percentage of the AUM, with over $10 billion valuations.
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