10.04.2024

Anthony Pompliano: Institutionalists are increasing investment in bitcoin

The rise of bitcoin (BTC) above $60,000 was commented on by Morgan Creek Capital co-founder Anthony Pompliano.

He predicted back in mid-February that the value of the cryptocurrency would increase due to a wider entry of institutional capital.

He has now confirmed his prediction and added that large investors will be building up reserves in bitcoin in the coming weeks.

With the supply of BTC on exchanges constantly decreasing, its price will increase as demand from retail and corporate traders intensifies.

According to the CryptoQuant platform, nearly 95% of cryptocurrency holders are making profits. A similar situation was observed during bull phases in 2017 and 2021, experts emphasized.

Santiment recorded high activity of bitcoin-ETF market participants this week.

On February 26 alone, the trading volume reached $7.64 billion and continues to increase, the analysts stressed.

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Коля Мельниченко

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