How Bitcoin Could Surge 500% Amid Rising Institutional Adoption

An increasing amount of Bitcoin is being accumulated by institutions. This much was made clear on Tuesday, when Stone Ridge Asset Management revealed to Forbes that it had picked up 10,000 BTC, representing one percent of its assets under management. Investors think that further institutional adoption of the cryptocurrency could result in prices going parabolic. How Bitcoin Could Explode Higher as More Institutions Adopt It Bill Barhydt, CEO of Abra and a former employee of the CIA and Goldman Sachs, recently said that if only 5% of the liquid assets that the top nine firms in the S&P 500 own were to enter Bitcoin, it would surge: “9 companies alone in the S&P 500 are sitting on close to $600 billion in cash and short term investments. 5% of that moving into #Bitcoin (or $30 billion) would likely 5x the price of Bitcoin given the lack of sellers. (3/6).” At…

Read the original article here