EddieJayonCrypto

 22 May 24

tl;dr

Bitwise CEO Hunter Horsley revealed that significant financial players are secretly investing in Bitcoin, including a nation's sovereign wealth fund and a large technology company. He anticipates that more major firms, possibly even Meta, will follow suit and put Bitcoin on their balance sheets as E...

Bitwise CEO, Hunter Horsley, revealed that secret institutional investors, including a sovereign wealth fund and a large technology company, are driving Bitcoin's acceptance. This secretive investment trend is expected to accelerate as more major firms, potentially including Meta, put Bitcoin on their balance sheets through ETFs.

Horsley expressed optimism about the impact of public awareness of these investments on accelerating Bitcoin's adoption and market growth. He also hinted at a surge in corporate Bitcoin investments, signaling an increase in market momentum.

The Bitwise Bitcoin ETF, with $2.3 billion in assets under management, has attracted significant investments from undisclosed institutional players, including a nation's sovereign wealth fund and a large technology company that prefers to keep its purchase private.

Horsley predicted that ETFs making Bitcoin easier to hold will likely lead to a giant tech firm like Meta adding Bitcoin to its balance sheet by next year. This, he believes, will be a key catalyst for Bitcoin's bull market, demonstrating institutional and regulatory support for the cryptocurrency.

Bitwise CIO, Matt Hougan, expressed strong bullish sentiment on Bitcoin ETFs, citing the substantial room for increased allocations by the recent wave of buyers revealed in 13F filings. He anticipates that the public realization of support from major organizations and lawmakers will further expedite Bitcoin's market momentum.

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 13 Nov 24
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