Institutional investors have become the largest group of bitcoin buyers because of the negative interest rate policy of central banks and the rising bitcoin price, according to Chris Vermeulen, founder of AlgoTrades Systems, a market technical analyst, trader and a financial author, writing in resourceinvestor.com.
Vermeulen claims central banks have proven to be a curse for global economies and their days are numbered because of new technologies and currencies.
Investors Escape Fiat Currencies
People are putting money into digital currencies rather than fiat currencies due to central banks’ negative interest and zero interest rate policies. This has caused bitcoin’s price rise this year.
Carlo Civelli, a billionaire resource investor, said central banks will not be able to get away with their monetary printing. The more they print, the more they drive investors away from fiat currency. Civelli said he could see governments telling people their money and bonds are worthless and that everyone has to “take a haircut.”
Because investors recognize this outcome, they are now the largest group of bitcoin buyers.
Jeremy Millar, who founded Ledger Partners in London, thinks family offices and hedge funds provide 50 to 80 percent of bitcoin’s $6.4 billion market capitalization.
https://www.cryptocoinsnews.com/big-investors-flocking-bitcoin/
