The BTC price remains close to the $60,000 ATH mark as Q1 2021 draws to a close. So, let’s quickly revisit some of the catalysts that got us here. Over the course of 2020-21, high net worth individuals added Bitcoin to their portfolios. The list includes Paul Tudor Jones and his “Great Monetary Inflation (GMI) quote, hedge fund founder Stanley Druckenmiller, value investor Bill Miller, and even Howard Marks and Ray Dalio have changed their minds and turned bullish on/open to BTC. 

Beyond individuals, corporate treasuries have been investing in Bitcoin. Last year, Microstrategy (MSTR), a publicly traded company announced a purchase of over $1 billion in BTC. Since that initial purchase, MSTR has been steadily adding to that position. All told, Microstrategy owns $5B+ of BTC. In February 2021, Saylor held an online convention teaching 1000+ companies how to purchase and store BTC with-in their own companies in a legal, compliant, and tax-advantaged way. 

In October, 2020, Square published a Bitcoin Investment Whitepaper, open sourcing the process behind their purchase of 4,709 bitcoins at an aggregate price of $50 million. Then in December 2020, Mass Mutual, one of the world’s oldest insurance firms purchased $100 million worth of Bitcoin.

In early February 2021,Tesla announced a $1.5B purchase of BTC. Tesla followed up that announcement by sharing that they will also accept BTC as payment and operate their own Bitcoin nodes. 

Additionally, legacy finance in getting involved. In the month of March, both Morgan Stanley  and Goldman Sachs said they will start offering direct bitcoin exposure to its wealthy clients. Aside from banks, new crypto investment vehicles are regularly being announced. Six Bitcoin ETFs have been submitted to the SEC with the latest being from Fidelity and their trillions under management. And although the first US BTC ETF has yet to be approved, several have already launched in Canada. 

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