The institutions are here, and they fancy your Bitcoin

24 May, 2019 | Updated: 24 May, 2019
by Joeri Cant
Bitcoin
The institutions are here, and they fancy your Bitcoin

Crypto entrepreneur, and Director of research at TradeBlock, John Todaro, took to Twitter to point out that the institutions are here and that they apparently fancy your stack of Bitcoin.

John Todaro of TradeBlock pointed out in a recent tweet that futures volumes outpaced spot exchange volumes for the first time in the month of May, suggesting a rise in institutional interest in the cryptoverse.

'They want to buy your Bitcoin', he tweeted, referring to his belief that institutions seem to be after your hard earned Bitcoin and other digital asset holdings.

Blocktown Capital, an investment fund focused exclusively on blockchain ventures, digital currencies, and protocol tokens, recently posted a graph, which shows the accumulation and distribution patterns of the top 100 Bitcoin addresses.

We can undeniably see the moment where the top Bitcoin addresses massively sold off their BTC (in Nov/Dec 2018) and that they are now trying to regain their Bitcoin holdings since the beginning of in 2019.

Blocktown Capital's advice is crystal clear: 'Don't give it back'

Just recently Chepicap reported that founder and partner at Morgan Creek Digital Assets, Anthony Pompliano, had said that 'the Bitcoin bulls are back', referencing CME’s Bitcoin futures volume crossing $1.2 billion as well as trading volumes on exchanges reaching new highs.

The Pomp added that definitely, institutions are starting to come in. 'You see Fidelity announcing that they’re going to start their custody and trading, Bakkt has set their deadline for July but retail also comes in.'

The fact that institutions are starting to come in, can only be received as joyful news ... unless they fancy all our Bitcoin (accompanied by ominous music).

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