On Thursday institutional investor Anthony Pompliano said he convinced Jim Cramer to invest in bitcoin. Jim Cramer would join the growing list of institutional investors flowing into bitcoin this year with some of the names of Paul Tudor Jones, Mike Novagratz, and many others. Grayscale Bitcoin Trust, the vehicle for many of these institutional investors to get exposure to bitcoin, has bought an additional of 1.4 billion dollars worth of bitcoin in Q2 2020 alone.
Paul Tudor Jones said he has “just over 1% of my assets in bitcoin. ... Every day that goes by that bitcoin survives, the trust in it will go up.” On the CNBC show “Squawk on the Street,” Jim Cramer stated that the demand toward Bitcoin is rapidly increasing and because of Bitcoin’s decentralized nature, its price could potentially enter the $1 million region, which would bring the market cap of Bitcoin to tens of trillions of dollars.
Submitted September 10, 2020 at 04:39PM by NoArticle494 https://ift.tt/2GLHOsZ