SkyBridge Capital Expects “Tidal Wave” of Capital to Hit Bitcoin

Bitcoin has undergone an extreme rally over the past three months, pushing to $28,000. BTC now trades for $26,500 even after a slight correction. Analysts believe that there will be a tidal wave of capital entering the cryptocurrency space that will boost prices even more. Bitcoin Could Get Hit By Tidal Wave of Capital Bitcoin has undergone an extreme rally over the past three months, pushing to $28,000. BTC now trades for $26,500 even after a slight correction. Many attribute this rally to institutional capital. Namely, there have been large funds, corporations, and other firms in that class buying cryptocurrencies to diversify their portfolios. Take the case of MicroStrategy, a business services company that bought $650 million worth of Bitcoin in and of itself. As reported by Bitcoinist, the company wrote at the time it made this purchase: “TYSONS CORNER, Va.–(BUSINESS WIRE)–Dec. 21, 2020– MicroStrategy® Incorporated (Nasdaq: MSTR) (the “Company”),…

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