by Marvin Dumont
During the last week of April, news of trouble at Bitfinex and Tether sent jitters across the market, wiping out $6 billion in market cap for Bitcoin. However, bullish sentiments are overriding concerns from some investors.
Since April 1, the crypto market has gained nearly 30%, rising from $145 billion to $188 billion.
Will the trend continue? Why not?
There’s more awareness than ever in programmable monies. Moreover, institutional investors don’t want to miss out on the upside.
Endowments are college-affiliated investment funds that have tens of billions of dollars seeking an ROI. A BitGo survey reached out to 150 endowments. It found that:
- 94% of endowments have taken part in a crypto-related investment in the past 12 months
- 94% believe the sector’s allocation to crypto investments will either increase or stay the same in 2019
- Only 7% believe their allocation will drop during 2019
According to Blockchain Capital, 11% of the American population owns Bitcoin while 89% are aware of it. (The April 2019 survey included 2,052 respondents.)
Big investors are key to exciting gains. And more are getting excited about cryptos.
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