According the the CEO of Abra, Bill Barhydt, there is a tidal wave of institutional money coming from the West.
The quote in the title was from Abra CEO Bill Barhydt when he was talking about the current investment landscape making up the cryptocurrency asset class.
According to Barhydt, there could be another major surge in cryptocurrencies just around the corner as this institutional money from the West starts to enter the space.
Oh, and by the way, he might know thing or two about institutional money as he used to work on trading systems with Goldman Sachs.
What he is saying specifically:
According to Barhydt, all hell will break loose once these big money institutions start allocating even 1% to cryptocurrencies.
Specifically, he had this to say:
“I talk to hedge funds, high net worth individuals, even commodity speculators. They look at the volatility in the crypto markets and they see it as a huge opportunity. Once that happens, all hell will break loose. Once the floodgates are opened, they’re opened.”
(Source: https://www.ccn.com/all-hell-will-break-loose-abra-ceo-predicts-bitcoin-boom-will-return-this-year/)
Why does that not surprise me. The more something moves the more money that can be made, especially in something with adequate liquidity but also isn't so large that it can be pushed around a bit by these guys.
Continuing with that theme...
Barhydt also had this to say:
"There really is zero large-scale institutional money from the west in crypto right now. That is happening in Japan. Once a large sizable chunk of Western institutional money starts to come in — watch out.”
(Source: https://www.ccn.com/all-hell-will-break-loose-abra-ceo-predicts-bitcoin-boom-will-return-this-year/)
And this:
"We’re getting closer and closer to real clarity in the West that it’s OK putting half a percent of your assets into crypto."
(Source: https://www.ccn.com/all-hell-will-break-loose-abra-ceo-predicts-bitcoin-boom-will-return-this-year/)
This is what some other people on "the street" have been saying as well recently.
Wall Street type money is starting to dip their toes in but they are a long ways from having a set allocation to the space.
As regulations are implemented and updated, I imagine we will start to see more and more of this.
Doesn't really seem to be a matter of "if", but rather a matter of "when".
Stay informed my friends.
Image Source:
https://www.ccn.com/all-hell-will-break-loose-abra-ceo-predicts-bitcoin-boom-will-return-this-year/
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