If you were a CEO of a large financial institution three years ago, publicly stating support for Bitcoin would be suicidal. The reason? The media-driven narrative was that Bitcoin is only useful for criminals and drug dealers. You have to understand, most of the people didn’t even understand Bitcoin. They heard the same blatant lies day in and day out. And they blackout everything else. On top of all the misinformation in the media, Warren Buffett declared that Bitcoin is “rat poison squared.” His partner, Charlie Munger, said it was like “trading dead baby brains.” And Jamie Dimon, CEO of JPMorgan, the largest US bank, stated that he would fire anyone who was caught trading it. Well, the narrative has changed. And many others are changing their minds too. Here is a list of other that are firmly bullish. 15 investors and institutions 1.JPMorgan Even JPMorgan conceded. According to , JPMorgan released a note last week that now states their analysts believe Bitcoin could . Fortune double or triple in price 2.Tudor BVI Fund First and one of the most notable converts is billionaire hedge fund manager . Tudor has said that Bitcoin in 2020 reminds him of gold’s role in the 1970s. His $22 billion hedge fund has invested between of its assets in Bitcoin futures contracts. Paul Tudor Jones 1 and 2 percent 3.Social Capital founder , a self-proclaimed “disciple” of Warren Buffett, says Bitcoin is the best financial hedge against an uncertain world economy. He urged people to invest at least . Social Capital Chamath Palihapitiya 1% in the asset 4.ARK is the most successful investor over the past five years. Her team at ARK recommends an allocation to Bitcoin, ranging from . Cathie Wood 2.55% to 6.55% 5.Stone Ridge Multi-billion dollar institutions are now allocating 9-figures to Bitcoin. , a $10 billion asset manager, now owns . Stone Ridge $115 million in Bitcoin 6.Microstrategy Inc. raised Bitcoin holdings to after the second purchase. Bitcoin held by the company is serving as the primary treasury reserve asset, almost entirely replacing US dollars. Nasdaq-listed Microstrategy $425 million 7.Mode , , has recently announced that they will put in Bitcoin to protect themselves against currency debasement. Mode Global Holdings a London Stock Exchange -listed company 10% of their cash reserves 8.Grayscale The largest digital asset investment manager, , saw the third quarter and now has almost in total assets. Grayscale’s Bitcoin (BTC) is on track to reach 500,000 BTC by the end of 2020. Grayscale record inflows of $1 billion in $6 billion Trust 9.Fidelity also added its establishment name and star power to the new asset class. They successfully launched cryptocurrency custody offerings for institutional investors in 2019. In August 2020, they launched its first Bitcoin fund, and recently, they suggested investors increase their Bitcoin allocation to . Fidelity 5% or more 10.Intercontinental Exchange (ICE) , the trading colossus that owns the New York Stock Exchange and other global marketplaces, formed Bakkt. The company, backed by , aims to make cryptocurrency safe for your retirement fund, and maybe retail. Intercontinental Exchange Microsoft and Starbucks 11.Goldman Sachs has emerged that they are considering its own crypto asset, most likely a stablecoin. The bank said that there had been an with the bank’s institutional clients when it comes to crypto, adding that Goldman “uptick in interest” “it feels like there is a resurgence of interest in cryptocurrencies.” 12.DBS BANK , the largest bank in Southeast Asia by assets, is getting ready to launch a new digital asset exchange. This is a big deal because it shows that . DBS Bank crypto has gone mainstream in Asia 13.PAYPAL has recently entered the cryptocurrency game too. The technology company will allow users to buy and sell Bitcoin and other cryptocurrencies. PayPal has more than , 25 million merchants, and is the . PayPal 345 million users 20th largest “bank” by deposits 14.SQUARE Payments platform has purchased in Bitcoin. , has long been a proponent of Bitcoin, saying in 2018 that he believes it will eventually within the next decade. Dorsey, who also owns an undisclosed amount of bitcoin personally. Square $50 million Jack Dorsey, CEO of Twitter and Square become the world’s single currency 15.CENTRAL BANKS Although different entities, central banks belong on this list too. They have long exercised influence over Wall Street, and they are not oblivious to what is going on here. Whether it is the Chairman of the talking positively about Bitcoin and Ethereum, the launching a proposal for a digital euro, or it is testing a centralized digital currency in Shenzhen, . An easy first step would be to begin putting Bitcoin in their central bank reserves. If that happens in a major country, it will set off a global game of . CFTC ECB China they are all paying attention FOMO Mahatma Gandhi’s once said: “First they ignore you, then they laugh at you, then they fight you, then you win.” You have to imagine that every large bank is holding executive meetings about Bitcoin. It is also easy to imagine large family offices are already getting exposure to Bitcoin without announcing it to the world. Yes, we have come a long way since the view of drug dealers and criminals. But Bitcoin hasn’t won yet. Let’s not forget that the Bitcoin win is not as another asset on Wall Street. The financial system is broken and built a world of inequality. The goal is to and use technology to create a better, more equitable world. disrupt the status quo Then we’ll all win. In the meantime, I suspect we’ll just continue to . HODL
