Late within the crypto? Establishments are nonetheless within the early phases of adopting Bitcoin
Late in the crypto? Institutions are still in the early stages of adopting Bitcoin
Institutional investors rush up (BTC) at high speed, with more and more companies emerging looking to use Bitcoin as a means of storing their reserves. Recently, Marathon Patent Group, a Nevada-based bitcoin mining company, bought bitcoin worth $ 150 million as reserve assets, a step similar to MicroStrategy Purchase of Bitcoin worth $ 425 million This purchase made the Marathon Patent Group the third largest owner of BTC among publicly traded companies
In addition to Marathon, BlackRock (NYSE :), the world’s largest asset manager based on assets under management, stated in its new filing to the US Securities and Exchange Commission that Bitcoin derivatives could now be part of the investment plans of two of its associated funds, BlackRock Global Allocation Fund Inc. and BlackRock Funds. This is a precedent for other large asset management companies like Vanguard, UBS Group, Federal road (NYSE 🙂 consultants etc. to get into the crypto investing space.
Read on on Coin Telegraph
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