A popular crypto analyst says that institutional money will come for Bitcoin (BTC) in 2022 and drive up the price of the benchmark crypto asset.
In a new video, the host of financial education YouTube channel InvestAnswers tells his 412,000 subscribers that filings with the U.S. Securities and Exchange Commission (SEC) indicate a growing interest from institutional investors to buy Bitcoin.
[adinserter block="1"]From just under 60 in the last quarter of 2021, the number of SEC 13F filings that mention Bitcoin increased to nearly 160 in the first two months of 2022.
“This is the number of SEC 13F filings that mention Bitcoin per quarter, and it’s gone up nearly 3x, and this is for asset managers that manage over $100 million in assets for clients. They have to disclose their equity holdings and other digital asset holdings as well. So remember, smart money is coming Q1 2022. They’re knocking on the door and that going from 58 mentions to 160 is a huge explosion.”
The analyst says that despite the current weakness in the market, the price of Bitcoin will explode once institutional money goes to crypto.
“Will the arrival of institutional money cause a price surge? The answer is yes and Kevin O’Leary said as much. He expects this money to completely change the game. So does Raoul Pal, so do I, so do many others. If you look at Glassnode statistics today as well, you see that 80% of the transactions, 80% of the volume is institutional million dollar-plus transactions.
This is what’s driving the market right now, so despite the weakness and uncertainty, just remember: big picture. When the institutions come in, they plan for 6, 12, 24 months before they actually pull the trigger. 2022, I believe, is the year that they will pull the trigger.”
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