Browse By

Bitcoin reaches record $6.4 billion in institutional investments

The price of Bitcoin (BTC) surpassed $68,000 and once again renewed its historic high in 2021. Part of this movement is due to institutional investments, according to a report by CoinShares.

Bitcoin reaches record $6.4 billion in institutional investments

Bitcoin reaches record $6.4 billion in institutional investments

The document points out that the number reached a record $6.4 billion.

Regarding the market as a whole, large investors invested $8.9 billion. The number represents an increase of $2.2 billion compared to the 2020 accumulated.

While the BTC reached a record and now accounts for 66% of all institutional inflows, other cryptocurrency have also grown. For example, Ethereum (ETH), which records $1 billion in investments during the year and accounts for 25% of investments.

For James Butterfill, investment analyst at CoinShares, optimism has brought investors back to the market. With that, the cryptocurrency had the strength to renew its maximums and appreciate 7.45% in the last seven days.

Read more:

“ETH saw renewed positive sentiment with entries totaling $31 million last week. Ethereum’s market share has suffered in recent months due to Bitcoin’s dominance, but the recent combination of positive pricing and entry performance has helped the market,” said Butterfill.

Then, Solana was the highlight, receiving $154 million in investments during 2021. The cryptocurrency rose 19% in the last seven days and consolidated itself as one of the largest in market value.

The big “dispute”, however, took place between Polkadot (DOT) and Cardano (ADA), which registered exactly the same amount of investments – $92 millions.

The movement of the ADA was more expressive at the beginning of the year, while the DOT registered strong increases mainly due to the launch of parachains.

Last week, DOT registered an inflow of $9.6 million in investments. As in the case of the BTC, this value is a record in the historical records of the cryptocurrency.

Leave a Reply

Your email address will not be published. Required fields are marked *