Posted 3/22/2024, 9:30:00 AM
Big Investors and Institutions Embrace Bitcoin amid Inflation Fears
- Michael Saylor's MicroStrategy keeps acquiring more Bitcoin through convertible note offerings, now holding over 214,000 BTC
- BlackRock and its CEO Larry Fink are ramping up crypto offerings, with a spot BTC ETF acquiring 200,000 Bitcoins quickly
- More billionaires like Ricardo Salinas, Qatar's royal family, and Jeff Bezos are entering the crypto space
- Ark Invest estimates optimal crypto allocation at 20%; if acted on, it could unleash a flood of new BTC buying
- Billionaire hedge fund managers see BTC as an inflation hedge, but massive speculative bets could dramatically affect price