Cointelegraph recently uploaded a video in which they interviewed Mati Greenspan, eToro Senior Market Analyst. Among other things, the participants talked about the arrival of Fidelity Investments, a much-discussed institutional investment firm.
In the video, Greenspan spoke about the impact that Fidelity’s involvement would have on Bitcoin’s price – and the participants seemed to think that a $2,000 addition in value would not be unlikely. Though he did say that predicting how much institutional investment would come in was just speculation, he said that he did know that “upwards of a trillion dollars [was] under management.” He then went on to say,
Let’s say even 1% of that, if that goes into crypto, if all of their clients diversify with 1%. I think maybe that’s a bit aggressive to think about, but if we think about it in those terms, that itself could drive the price of Bitcoin up a $1,000, $2,000 easily.
However, Greenspan thinks it’ll take a little explanation to their customers before they understand how this is beneficial for their portfolio, and it’ll take a while before the crypto market looks attractive enough for those customers.