Incredible Сrypto Bull Run Since 2017
The traditional financial landscape has drastically changed so far and a growing number of institutional investors are flocking to Bitcoin. Some of them like the stock market bulls are cooperatively purchasing the largest amount of BTC assets.
The amount of cash these public companies have spent on BTC looks incredible both in terms of the companies’ budget and on a large scale.
A prominent Bitcoin enthusiast who’s recently heated up the whole financial world, electric vehicle manufacturer Tesla, has invested an aggregate of $1.50 billion in the cryptocurrency. Moreover, Tesla is going to start taking payments for its vehicles in cryptocurrency in the nearest future. Another example is MicroStrategy, a business analytics platform that has adopted Bitcoin as its primary reserve asset. Crypto-focused merchant bank Galaxy Digital Holdings has scooped up 16,402 BTC and now is worth over $770 million at current prices.
That’s not all yet! Large-scale funds such as Grayscale Bitcoin Trust, CoinShares Group, Ruffer Investment Company, 3iQ, ETC Group's Bitcoin ETF, and others have been just piling into BTC thus increasing its rate and encouraging individual investors to engage in the crypto rally. These investment funds don't hold Bitcoin on their own behalf but enable accredited investors to gain exposure to Bitcoin without holding the cryptoasset directly.
Nevertheless, some big figures in the world of finance like Ann Cairns, the executive vice chair at Mastercard, analysts of investment bank Goldman Sachs and many others are still claiming that the volatility of Bitcoin can’t let it displace gold from the status of a reserve asset. The truth is that this big institutional support spreading around the world nowadays has given the bitcoin's price a real surge. That’s the reason why corporate treasurers stick with so-called risk-free assets to manage company funds such as US Treasuries and money market instruments.