RATE Group | Bitcoin Price Can Rocket Higher Without Institutions: Venture Capitalist
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Bitcoin Price Can Rocket Higher Without Institutions: Venture Capitalist

28 Sep Bitcoin Price Can Rocket Higher Without Institutions: Venture Capitalist

Posted at 12:19h in Bitcoin News by

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“The institutional herd is coming” is a phrase uttered by countless Bitcoin bulls ad nauseam. They believe that the arrival of this subset of investors will be a catalyst that drives cryptocurrencies to fresh all-time highs and catapult the technology into the mainstream.

However, an industry venture capitalist has argued that the institutional narrative is flawed, in that the Bitcoin price doesn’t need, say, Wall Street or its Asian equivalent to succeed and grow.

Related Reading: Report: Institutional Investors Are Behind Latest Bitcoin Rally; But Will BTC Keep Climbing?

Bitcoin: No Institutions Needed

On Monday of this week, Bakkt had the first full-day trading session for its physically-deliverable Bitcoin futures. The investment vehicle, expected to be the catalyst that brings BTC to new heights, seemingly flopped, seeing less than $1 million worth of volumes on Monday.

Many have since questioned the viability of the institutional narrative, and thus the future of Bitcoin.

But…

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