Large banks and financial institutions are moving into Bitcoin!

The entrance of large-scale banks and financial institutions such as JPMorgan, Goldman Sachs, Fidelity Investments, CME, CBOE, Shinhan, and Man Group have further triggered the demand for bitcoin from both the traditional finance sector and general consumers.

Even for a $350 billion bank like JPMorgan, the failure to adopt bitcoin and offer services around it will ultimately lead customers and clients to move to other financial institutions that do provide platforms to invest in bitcoin. Hence, an increasing number of banks have started to engage in bitcoin trading, mostly due to FOMO (fear of missing out) and competition.

At this point, JPMorgan can make possible two decisions: either allow $95 billion Man Group, $2.23 trillion AUM Fidelity Investments, and other institutional investors to invest in bitcoin while they remain isolated, or acknowledge the trend and engage in bitcoin trading.

“Over 100 hedge funds have been created in the past year exclusively to trade digital currency. An even greater number of traditional institutional investors are starting to look at trading digital assets (including family offices, sovereign wealth funds, traditional hedge funds, and more). By some estimates, there is $10 billion of institutional money waiting on the sidelines to invest in digital currency today.”

Based on all this information - I predict that Bitcoin will go far beyond the $10 000 mark.