Price analysis 12/14: BTC, ETH, XRP, LTC, BCH, LINK, ADA, DOT, BNB, XLM
Strategists at JPMorgan (NYSE:) said in a note that MassMutual’s $100 million (BTC) purchase shows that insurance firms and pension funds are now adopting Bitcoin. According to the analysts, typically this class of institutional investors is conservative in their style of investing so the recent allocation is quite significant.
However, the strategists said that even if the pension funds and the insurance companies in the U.S., Japan, the U.K., and the Euro area keep 1% of their assets in Bitcoin, that could amount to an additional inflow of about $600 billion into Bitcoin.
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