Bloomberg recently shared the opinion of JPMorgan analyst Nikolaos Panigirtzoglou, who said Bitcoin would attract even more investment as a safe haven asset.
In a recent report, a financial holding analyst claimed that financial institutions and wealthy people are starting to pay more attention to Bitcoin and buy the asset. Panigirtzoglou believes that the adoption of cryptocurrencies by institutional investors is just beginning and will continue to increase.
There has been a lot of high-profile news lately about millions of dollars in bitcoin investments involving MicroStrategy, the Massachusetts Life Insurance Company, the Grayscale investment fund, and Jack Dorsey’s “Square” company.
In a report by Nikolaos Panigirtzoglou, he says that Bitcoin accounts for only 0.18% of the capital of family funds, while gold ETFs account for about 3.3%. And when funds start transferring money to bitcoin, it will be billions of dollars towards the capitalization of the first cryptocurrency.