Bitcoin Sees Third Straight Week Of Institutional Capital Flows Amid Market Sentiment Turnaround
Institutional investors are pouring money into Bitcoin. Current price is $50,060 but that is still very cheap Bitcoin, especially when one considers what the future holds.
Data from CoinShares’ weekly digital asset fund flow report shows that over the past seven weeks, digital assets have seen positive inflows that currently total $411 million. Bitcoin in particular has enjoyed much of the turnaround in sentiment, according to the firm.
“Bitcoin saw inflows of US$48m last week. Having suffered the longest run of outflows on record, Bitcoin has now seen its 3rd week of inflows totaling US$115m.
We believe this decisive turnaround in sentiment is due to growing confidence in the asset class amongst investors and more accommodative statements from the U.S. Securities Exchange Commission and the Federal Reserve.”
