Published on November 14th, 2017 | by bitcoin0
Billionaire Investor Novogratz: corporate Investors Will Soon approve Bitcoin
At the Reuters Global 2018 Investment Outlook Summit in New York, Billionaire Hedge Fund Legend and former Fortress Executive Mike Novogratz stated that institutional investors are close to adopting Bitcoin.
But, Bitcoin price has been recovering with optimism surrounding CME Group’s launch of a Bitcoin futures exchange and the infrastructure Wall Street hedge funds, investment firms and exchanges have been building around Bitcoin to provide more liquidity to large-scale investors.
The market was simply not deep and mature enough for institutional investors and large-scale hedge funds to commit.
As explained by Samani, institutional investors will be engaging in Bitcoin trading and enter the Bitcoin market with tens of billions of dollars in the short-term.
As institutional investors participate in the market and liquidity of Bitcoin further increases, the value of Bitcoin will inevitably rise at an unprecedented rate in the mid to long-term.