Are institutional investors looking to bag some Bitcoin?
Research recently conducted by the financial service provider Deloitte shows that institutional investors may be waiting on the sidelines preparing to load their bags.Tweet this
Following research recently conducted by the financial service provider Deloitte, it was discovered that institutional money may be somewhat eager to jump into the crypto space to load up on some Bitcoin.
CryptoDaily observed that the implication of this new research is that; if these institutions truly “invest in the blockchain technology, this could, in turn, inspire major institutional investment into cryptocurrency and blockchain projects such as Bitcoin.”
This survey comes as a bigger move by Deloitte, with the aim of discovering how their clients can tap into the array of financial benefits that the blockchain and cryptocurrencies have to offer. Hence, Deloitte’s research was extensive and exhaustive on a variety of levels, covering around 1,053 clients globally, with the aim of realizing a resourceful and useable data.
One of the major findings of the research showed that 84% of clients surveyed were of the opinion that blockchain will experience increased adoption soon.
Coindesk captured this clearly when they stated:
“84 percent of all respondents believe that blockchain will broadly scale and reach mainstream adoption. Roughly 59 percent say they think blockchain could disrupt their specific industries, and 29 percent of all respondents have already joined a blockchain consortium”
Overall interest in blockchain has grown as well, the revenue for blockchain companies it projected to grow from $340 million in 2017 to as much as $2.3 billion by 2021, and their report included other data points highlighting the interest on the financing side of things. In the first six months of 2018 alone, venture capitalists have funded blockchain startups to the tune of $1.3 billion.
Beyond the fact that this might go a long way to greatly impact the price of Bitcoin in particular (as it is generally regarded as the base cryptocurrency like the USD for fiat currencies), it will also have a generally positive effect for the entire cryptosphere.
The emergence of institutional investors from different industries will also translate to the arrival of more specialised researchers; developers; experts; new technologies from other industries, and not to mention the enormous amounts of money that will pour in. And of course most importantly, will be the increased rise in mainstream adoption of blockchain technology and the creation of increased use-cases for the cryptocurrencies these blockchain techs produce and protect.
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