Kraken’s Dan Held Says Arrival of Institutional Herd Could Ignite Intense Bull Market

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Kraken’s Dan Held Says Arrival of Institutional Herd Could Ignite Intense Bull Market

Institutional investors may usher in the most extreme portion of the Bitcoin bull market yet, according to Kraken’s growth lead Dan Held.

In a lengthy Twitter thread, Held tells his 164,000 followers that Bitcoin is rapidly attracting institutional investors that could add trillions of dollars of value to the market.

“The herd is here. Institutions manage $100 trillion, and now some of that is flowing into Bitcoin.

As institutions provide access to Bitcoin and buy it, it reduces the availability of Bitcoin to purchase.”

Held points out that the level of institutional Bitcoin trading that Coinbase has seen since the fourth financial quarter of 2019 has been growing at an alarming rate, especially going into Q4 2020.

“A more concrete way to measure the rise of institutions is through Coinbase’s S-1 filing which had a chart breaking out institutional vs retail trading volume. As we can see, the rise of institutions started in Q2 2019 and has been ramping up in Q4 2020.”

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