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1/ The Bitcoin story this year has been dominated by institutional investors taking positions in BTC, or expressing supportive views.
This includes traders/investors such as Stan Druckenmiller and Paul Tudor Jones, plus large firms such Blackrock and Guggenheim.
A summary:
This includes traders/investors such as Stan Druckenmiller and Paul Tudor Jones, plus large firms such Blackrock and Guggenheim.
A summary:
2/ These are all $1B+ money managers, and we track their BTC comments & allocations here:
https://www.casebitcoin.com/money-manager-views
First in the list is Paul Tudor Jones, with his May macro update calling bitcoin the "fastest horse" to benefit from the post-covid macro environment.
https://www.casebitcoin.com/money-manager-views
First in the list is Paul Tudor Jones, with his May macro update calling bitcoin the "fastest horse" to benefit from the post-covid macro environment.
3/ Next is Stanley Druckenmiller, who summed up prevailing sentiment on BTC and Gold on CNBC, saying:
"Frankly if the gold bet works, the bitcoin bet will probably work better"
"Frankly if the gold bet works, the bitcoin bet will probably work better"
4/ BlackRock CIO of Global Fixed Income, Rick Rieder, then made headlines when he went on CNBC in November and said that bitcoin is durable and would eat into gold's flows
5/ Also in November, longtime Bitcoin bull and value investor, Bill Miller, reiterated his bullishness, noting that bitcoin has been de-risked on a number of fronts, and that adoption is growing, while Bitcoin's supply is fixed.
6/ Perhaps the most unexpected investment announced in Q4 was Mass Mutual's $100mm BTC allocation to their general account. While a tiny % of the portfolio, the signal this sent in terms of the investability of BTC is enormous.
7/ On Dec 1st, Co-Head of Portfolio Strategy at Alliance Bernstein said that bitcoin has a role in long-term asset allocation.
8/ Scott Minerd - CIO of Guggenheim Capital, made headlines saying their fundamental analysis suggests a price of $400,000 for BTC.
This followed news that Guggenheim filed with the SEC to invest 10% of their macro fund into @Grayscale's $GBTC
This followed news that Guggenheim filed with the SEC to invest 10% of their macro fund into @Grayscale's $GBTC
9/ News broke just this weekend that Jefferies head of equity strategy is trimming his gold position and adding BTC:
10/ Vimal Gor - Head of Bond, Income, and Defensive Strategies at Australian firm Pendal Group ($73B AUM) is now using bitcoin for positioning alongside gold.
11/ UK firm Ruffer Investments added ÂŁ550 million of BTC to their portfolio, after reducing exposure to gold.
They framed the investment as a "small but potent insurance policy"
They framed the investment as a "small but potent insurance policy"
12/ One River Asset Management has completed a $600mm purchase of BTC and ETH, with plans to upsize to $1B in early 2021.
CEO Eric Peters commented "the flows have only just begun"
CEO Eric Peters commented "the flows have only just begun"
13/ Finally, JP Morgan, while just a few years ago expressing very negative views on BTC, has noted on multiple occasions in recent weeks that BTC is now being viewed as an institutional alternative to gold, and "adoption of bitcoin by institutional investors has only begun"
14/ All of these, with more details, can be found here:
https://www.casebitcoin.com/money-manager-views
We expect this list to get longer as more traditional money managers get up to speed on bitcoin and allocations continue.
The institutions are finally here.
https://www.casebitcoin.com/money-manager-views
We expect this list to get longer as more traditional money managers get up to speed on bitcoin and allocations continue.
The institutions are finally here.
