#Institutions are continuously buying Bitcoin.#
Hot Topic Overview
Overview
Despite the recent decline in Bitcoin prices, institutional interest in Bitcoin remains strong. Italy's largest bank, Intesa Sanpaolo, has bought Bitcoin, and corporate bond purchases of Bitcoin surpassed the supply of new Bitcoin in the first two weeks of January. These institutional investment activities suggest that institutional demand for Bitcoin remains strong, even in the face of macroeconomic uncertainty, which brings hope to the cryptocurrency market.
Ace Hot Topic Analysis
Analysis
Despite the recent sharp decline in Bitcoin prices, institutional adoption of Bitcoin continues to grow, bringing hope to the cryptocurrency industry. Intesa Sanpaolo, the largest bank in Italy by market capitalization, has purchased Bitcoin and snapped up 11 Bitcoins at a price of $1 million, which will accelerate the adoption of cryptocurrency in the EU's third-largest economy. In addition, corporate bond purchases of Bitcoin in the first two weeks of January have already reached 5,774, exceeding the supply of new Bitcoin. These institutional investments show that institutional investors remain confident in the long-term value of Bitcoin, despite the unstable macroeconomic environment. Bitcoin prices have bounced back to over $96,000, suggesting that the price weakness from the all-time high of over $108,000 a month ago is over. Driven by institutional adoption and policy tailwinds, Bitcoin prices are expected to continue to rise.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Institutions continue to buy Bitcoin, even as the dollar index, U.S. Treasury yields, and Fed interest rate expectations seem poised to disrupt risk assets, corporate and institutional demand for BTC continues to grow.
Institutional adoption has accelerated the adoption of cryptocurrencies in the EU's third-largest economy, with an estimated 1.4 million citizens now owning crypto.
Corporate bond purchases of BTC in the first two weeks of January have already reached 5,774 BTC, exceeding the supply of new BTC.
Institutional adoption and rumors that President-elect Donald Trump plans to issue an executive order on his first day to address crypto accounting SEC rules have provided support for Bitcoin's price rise.