Bitwise CIO Matt Hougan claims that investors with a collective wealth of $100 trillion are beginning to invest in Bitcoin and cryptocurrencies.
Bitcoin Bull Market
According to Hougan, Bitcoin is experiencing a “raging” bull market, and the recent launch of spot Bitcoin ETFs has made it accessible to institutional investors.
Inflows Surge
The Bitcoin ETFs have witnessed $12 billion in inflows in just three months, making them the “most successful ETF launch of all time.”
Future Inflows
Hougan believes that these inflows are only the beginning. He estimates that a 1% allocation of global wealth managers’ portfolios to Bitcoin would result in approximately $1 trillion of inflows.
Current Price
Bitcoin is currently trading at $69,367, down 2% in the last 24 hours.
