Hedge Fund to Add their BTC and ETH Investment to $1 Billion by Early 2021
One River Digital Asset Management, a Bloomberg report shows, will increase their BTC and ETH holdings to about $1 billion by early 2021. It comes at a time when the BTC price rallied to over $24k, printing a new all-time high. Tyler Winklevoss now says this is the first time high and ultra-high net-worth investors are now “doing something” about Bitcoin.
More investors are pouring in to crypto, specifically Bitcoin. Following support from Wall Street heavyweights, the commitment by One River Digital Asset Management to increase their holdings of BTC and ETH to about $1 billion is bullish for both digital assets. Interestingly, the rally is with high participation from both the spot and derivative exchanges at the back of investor confidence that the coin could rally to over $25k and $30k in the next few weeks.
Impact on the BTC Price:
Bullish. Fundamentals are supportive of BTC bulls most of whom are riding the bullish wave following what appears to be a paradigm shift and legitimization of BTC and crypto as feasible investment assets.
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