FYI: In October I pondered what could send the price of bitcoin into the stratosphere.
My theory was that a flood of institutional capital could propel cryptocurrencies to the moon. The buy-in from the endowment, foundation, pension, family office space hasn’t quite happened just yet but bitcoin and the alt cryptos did see a huge ramp over the next couple of months.
I tend to look at these things from the angle of an asset allocator since that’s where I’ve spent my entire career but there is another angle to the institutionalization of this space, namely price discovery. While institutional asset allocators still haven’t warmed up to the idea of investing in crypto, the big change that happened in December was the rollout of futures trading.
Regards,
Ted
http://awealthofcommonsense.com/2018/04/price-discovery-in-bitcoin/
