Galaxy Digital CEO Mike Novogratz has predicted that as much as a trillion dollars could flow into bitcoin over the next year as wealthy baby boomers get into cryptocurrency. With the example of Morgan Stanley, he says that more banks will start offering bitcoin exposure to their customers. $1 Trillion Could Flow Into Bitcoin Michael Novogratz, a longtime bitcoin bull and founder of Galaxy Digital, talked about the future outlook for bitcoin last week in an interview at Reuters Digital Assets Week. He explained that as cryptocurrencies become more mainstream, wealthy baby boomers will be the next generation to get…
The Toronto Stock Exchange also listed The Bitcoin Fund in April of this year.
Record fiscal stimulus has pushed wealthy investors to invest in Bitwise's bitcoin fund as a means to hedge against inflation.
The fund is the latest example of Wall Street veterans cozying up to bitcoin in their rhetoric and capital allocations.
Pantera has informed the SEC its crypto fund has received a total of $164.7 million from investors with portfolios worth over $5 million.
Crypto investment firm Grayscale has told the SEC that the dollar-value of assets in its flagship bitcoin fund increased 90% to over $1.6 billion.
NYDIG has set up another bitcoin fund, raising $5 million from accredited investors – it's unclear what differentiates this one from its previous funds.