As the Bitcoin price drops…institutional investors are buying more Bitcoin
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Answer As the Bitcoin price drops…institutional investors are buying more Bitcoin
Crypto funds have not been influenced by geopolitical risks in the weeks following Russia’s invasion of Ukraine.
reported “CoinSharesOver the past week, institutional investors have added more Bitcoin to their portfolios.
Institutional investors interested in Bitcoin:
In its latest weekly report, CoinShares revealed the influx of institutional funds into digital assets, with crypto funds seeing $127 million in inflows in the past seven days.
This is a slight increase from the previous week.
The same source identified the inflows as indicating continued optimism among institutional investors in cryptocurrency, ignoring the market sell-offs triggered by geopolitical events.
Quoting from the report the following:Read:E-commerce platform Shopify now supports NFT sales
Digital asset investment products saw inflows totaling $127 million last week…indicating continued investor support for digital assets despite recent geopolitical events leading to a sell-off of risky assets.
The report added:
Positive sentiment was concentrated in North America.
The region recorded inflows totaling $151 million against Europe’s outflows totaling $24 million.
Bitcoin saw the lion’s share of these inflows.
Ethereum also had a great week, with inflows of $25 million, the largest in 13 weeks.
Other coins that saw inflows were Litecoin ($0.4 million), Cardano ($0.9 million), and Ripple ($0.4 million).
Meanwhile, Solana, Polkadot and Binance Coin saw outflows of $1.7 million, $0.9 million, and $0.4 million, respectively.
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