What are some major institutions investing heavily in bitcoins in 2024 ? And how is it going to impact the future prices for bitcoin according to you ?
Well, there are many of them to be honest, and personally, I won't be able to name them all, but first, we much recognize Microstrategy for that company's strong and unwavering believe in the the future of bitcoin and cryptocurrencies in general.
And after bitcoin Spot ETF was approved, major asset holders like Blackrock, Grayscale, Vanguard and so on and on all purchased various numbers of bitcoin, and even after the ETF was approved, I trust that this institutions plus alot of others have also purchased a lot of bitcoins as well.
Tesla is also a very popular name in the world of bitcoin investment, Elon musk announced when tesla bought its bitcoins, but later on, also announced when tesla also sold some of the bitcoin, and till date, Elon musk have never made any annoument again on Tesla selling it's remaining part of bitcoin they bought, which suggests that the company is still holding the remaining part of their bitcoin stash they kept after selling some.
Elon musk himself, I believe owns alot of bitcoins.
And speaking on the effect this has, or will have on the price of bitcoin, what other effect will it have if not that this will make the price of bitcoin go up significantly in the future, all this names are really big names and are likely not to sell their bitcoins anytime soon, so, while all this bitcoin are held in wallets that may never move them for several years from now, there are less bitcoin in the market and the more demand for bitcoin increases, so will the price of bitcoin as well will increase.