February 22, 2021
Institutional Adoption Driving Crypto Market
Institutional interest is helping drive BTC to all-time highs. Notably, addresses with 1,000+ BTC ($50mm+) hit all-time highs in February, suggesting institutions are entering the space. Corporate demand for BTC is also strong, with recent purchases from Tesla, MicroStrategy, and Square. We believe institutional demand for BTC should support the price above $50,000. In addition, as more investors comp BTC to gold, we anticipate its price will move higher to match this expectation.
Download Report →