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Survey: 36% of large institutions invested in Bitcoin

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BestChange   Thursday, 06/11/20 07:16:57 AM
Re: BestChange post# 26
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Survey: 36% of large institutions invested in Bitcoin

Fidelity Investments surveyed 774 institutional investors from Europe and the USA - it turned out that 36% of them had purchased Bitcoin and other cryptocurrencies. These include hedge funds, financial managers, pension funds and other market participants. At the same time, the share of such investors increased from 22% to 27% over the year in the USA, while in Europe the figure is even higher - 45%. Tom Jessop, CEO of Fidelity Investments, explained that this is due to more relaxed European legislation and the prevalence of negative rates. “These results confirm a trend we are seeing in the market towards greater interest in and acceptance of digital assets as a new investable asset class,” he concluded.

80% of ETH holders are in positive territory

80% of Ethereum owners bought cryptocurrency at a price lower than the current one, according to Glassnode. Over the past two years, the indicator was at such a high level only three times. At the same time, the last time the price of ETH was $700, now the asset is trading at around $245. At the end of March, with the price dropping to $108, the share of investors in profit fell to 18%, a record low since 2016. The historical maximum price of Ethereum was set in January 2018 at around $1,430 - since then, the cryptocurrency has fallen in price by 83%. Glassnode previously noted that more than 77% of ETH has not moved over the past six months.



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