In this article we will look at the latest institutional adoption of crypto currency. The following news could lead to a massive movement in the crypto world but is this the reality or are we just blinded by other components? In this article we will take a look at this question. With this being said, this article is no financial advice and for entertainment purposes only.
Start of a Super Cycle?
The exponential growth of the crypto space is why institutional investors continue to invest more money into it. According to a survey of over 500 financial advisors for institutional investors 15% of these advisors suggesting to invest into Bticoin to their clients. This is due to the fact that any losses on crypto currency can be deducted from their taxes and any profits that they are gaining can be count as profits.
The real selling point is that Bitcoin can be used as an inflation hedge. This is what mega banks like JPMorgan believe. Especially in the current situation where the unexpected inflation is rising very quickly this should be a good way to save your fortunes.
Furthermore, on of the largest banks in the United States has partnered with NYDIG to provide crypto currency custody to its clients. The expansion of crypto custody is exactly what institutions need when it comes to the crypto space. Talking about this topic, MetaMask partnered with three major custodians (BitGo, Qredo and Cactus). This means that the already high institutional demand for DeFi will only continue to grow.
News like these add to an argument towards a crypto currency super cycle. This seems too good to be true. On the one hand, it is not to be denied that the DeFi adoption is continuing and more and more people are getting into the crypto space. On the other hand, there is the happening inflation which just brings the price of everything up. This means that we should not be celebrating to early. But people also should not be to pessimistic about that. In my opinion people should hold their crypto if they believe in it.
Published by ga38jem on Publish0x|LeoFinance on 13th October 2021