The CEO of the YouTube channel InvestAnswers believes that the two-fold increase in requests to the SEC to allow cryptocurrency activities is a signal for large investors.
The head of investment and education channel InvestAnswers, James Mullarney, said that the number of applications to the US Securities and Exchange Commission (SEC) for permits in just two incomplete months of 2022 reached 160 pieces. Whereas in the last quarter of 2021 it was only 58.
“The number of SEC filings mentioning bitcoin has almost tripled in less than a quarter. Moreover, from managers who manage over $100 million in client assets. So remember, smart money will appear in the first quarter of 2022. They are already knocking on the door! Increasing the number of applications from 58 to 160 is a huge explosion.”
The analyst claims that despite the protracted market correction, as soon as institutional money enters the cryptocurrency, the price of bitcoin will rise sharply.
“Will the arrival of institutional money cause prices to rise? The answer is yes, and Kevin O’Leary said the same thing. He expects this money to completely change the game. Like Raul Pal, myself and many others. If you look at Glassnode statistics, you can see that 80% of transactions, 80% of volume, are institutional transactions worth more than a million dollars.”
The expert believes that institutional capital is what drives the market today. Despite the bearish trend and the uncertainty that is being observed, the big markets, Mullarney believes, will come into the industry in 6-24 months, when “institutional investors will pull the trigger.”
The founder of the analytical company Dogifox Nicholas Merten (Nicholas Merten) agrees with the opinion of James Mullarney. He stated that the correction of cryptocurrencies has created conditions for large investors. In early February, MicroStrategy CEO Michael Saylor said that adequate government regulation of the crypto industry could spur the adoption of digital assets by large investors. A little earlier, Q9 Capital managing partner James Quinn (James Quinn) reported that the decline in the price of bitcoin only increased the influx of new investors.
Source: Bits
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