This week something absolutely remarkable happened and for the future development of crypto in general and especially in terms of price development the significance of this can't be overestimated!
If you already are an investor into crypto or the financial markets in general you are probably familiar with stock market letters, stock magazines, forums and youtube influencers giving you ideas, hints, tips and advice what to consider a worthwhile investment.
You might be surprised if I tell you that big institutional investors - like pension fund managers or mutual fund managers - also rely on a kind of similar advice and service: professional research analysts. And as well as for the stock market gurus of the "small investors" there are certain analysts that have a reputation to be the best of their kind and to have predicted major market developments and turning points with a proven track record and fantastic precision.
One of those “celebrity” analysts is Christopher Wood https://grizzle.com/author/chris who I first noticed while he was working for CLSA but still followed after he changed to Jefferies.
Starting already in 2003 Christopher gave big institutional investors the advice to add bullion (physical gold bars) and gold mining stocks to their long only US portfolio. Investors who took his advice did pretty good considering gold went up from around 350 USD in 2003 to around 1,900 USD these days. In mid-2019 he first gave positive hints about bitcoin in general in his weekly research paper “Greed&Fear”.
But now, for the first time ever, he gave the direct recommendation for the above mentioned US long only portfolio investors to swap 5% of the total portfolio from gold (cut from 50% to 45%) into bitcoin. There are three major facts he points out that led to this recommendation:
1.) His general prediction of a medium-term high inflation or reinflation environment – due to the fact that globally central banks are no longer in control of the money supply (aka printing press) but politicians. (monetarization of fiscal policy)
2.) The ability to invest into bitcoin via professional custodian services enabling institutional investors to get into bitcoin in a way they are familiar and comfortable with.
3.) The fact that stock market listed MicroStrategy’s CEO Michael Saylor as a kind of ice-breaker was able to convince auditors, board of directors and even the SEC to use Bitcoin as their primary treasury reserve asset on their balance sheet. 
While the timing is questionable as bitcoin quadrupled already since the corona dip in March, you can rest assured that this piece of paper is remarkable in many ways and will have a major impact onto senior, long experienced investors and money managers and might even give them sleepless nights.
Usually, I would expect BTC and ETH to have a week period now for a medium price correction after their astonishing climb but it seems that any dip could be bought into by higher and higher piles of “traditional money” stacked at the sidelines waiting to get in.
While nobody can predict if on a short time horizon crypto prices will go further up 50% or will crash by 50% I feel that by this news the fundamental basic setting for crypto is changing massively atm.
In March of this year I felt that I might be overexposed into cryptos.. the recent price movements and news make me feel stupid having bought and hodling not much more.
It actually could be that 2020 / 2021 is the tipping point where crypto becomes a mainstream investment both for institutional investors as well as retail investors and that those fantastic price predictions actually might be realistic one day what puts us early crypto enthusiasts on the winning side and can put a lot of “old- wealth” into trouble.
! Disclaimer ! This is by no means an investment advice. Crypto investments are high risk and can lead to a total loss of your investment. Please research carefully what you are about to invest into and if your financial situation allows you to expose yourself to such a high-risk investment.
The author is long several in this article mentioned crypto currencies!