Coinbase seeing $200-400M per week from Institutional Clients

By Doc | Doc | 24 Aug 2019


Coinbase is seeing major investments flowing in every week from institutions.

Roughly 12 months ago, it was questionable whether institutions would ever actually jump into bitcoin and crypto in any meaningful way.

Now, it's not even a question of "if" any longer.

According to the CEO of Coinbase, Brian Armstrong, they are seeing roughly $200-$400 million per week flowing into crypto assets from institutional clients.

Yes, that is PER WEEK.

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(Source: https://www.ccn.com/coinbase-brian-armstrong-crypto-bitcoin-wallet/)

The good news keeps on coming...

Coinbase also recently announced the acquisition of Xapo’s institutional custody business, and Armstrong now claims that Coinbase custody is the No. 1 custodian of cryptocurrencies for institutional investors.

This is also coming at a time when Bakkt has announced a date for their Bitcoin Futures launch, and Fidelity, TDA, and Etrade are all looking at getting involved in crypto for their institutional clients in varying ways.

We are literally seeing the next stage of the bitcoin investing ecosystem being built right before our eyes.

It's refreshing to see it happen with a product that isn't already owned exclusively by institutions.

The little guy has a shot for once.

Stay informed my friends.

-Doc

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