Key Notes
- Bitwise CEO notes that several crypto holders have begun to reveal themselves recently.
- This comes as LinkedIn founder Reid Hoffman revealed that he has been investing in crypto since 2013.
- More institutional investors have entered the crypto space in the past year.
Hunter Horsley, Bitwise CEO, took to X to highlight that several crypto holders have begun to reveal themselves in recent times. In light of this new trend, he noted that those who do not own crypto often realize that they are the minority. Horsley’s statement was a reaction to Reid Hoffman’s recent purchase of CryptoPunk.
Crypto is Now Less Taboo
LinkedIn founder Reid Hoffman made a post on October 24, announcing that he had purchased a digital collectible dubbed CryptoPunk a few months ago.
He surprised a number of his followers by stating that he has been investing in the digital asset space for approximately 13 years. According to the founder, he has now joined one of crypto’s most impactful communities.
Horsley highlighted how most of the “impressive people and firms” that have cryptocurrencies in their portfolio hardly make any noise about it.
However, the situation has changed recently as quite a number of them have started to reveal themselves. Their confidence to come out is likely prompted by crypto’s new status globally.
As Horsley puts it, “crypto is less taboo,” hence the willingness to become open. Consequently, many skeptics will find the revelation surprising. Bitwise CEO claimed that they will realize that they are actually the minority.
Institutional Investors Defy JPMorgan’s Analysis
Like Horsley rightly pointed out, there has been a significant increase in the number of those who own cryptocurrency.
The trend is most common among institutional investors, especially with Michael Saylor’s Strategy holding the baton. It is supported by Sygnum Bank’s annual survey, which revealed that 57% of institutional investors plan to increase their crypto allocations.
Still, Horsley’s statement is a far cry from JPMorgan analysts’ opinion. These entities noted that 71% of investors plan to avoid crypto in 2025 entirely. At the time, there was already some slight growth in crypto involvement, but the overall atmosphere still reeked of skepticism. This was due to the market volatility and unclear regulations.
However, there have been some improvements in the market, especially with Donald Trump becoming president of the United States.
next
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
Godfrey Benjamin on X
Source: https://www.coinspeaker.com/bitwise-ceo-reacts-as-linkedin-founder-buys-a-cryptopunk/
