If you were in crypto in 2017, then you’re no doubt familiar with the “institutions are coming!” rallying cry that was shouted ad nauseam at every conference that year.
On Twitter, crypto celebs dropped alpha that they were “in talks” or had “sources” telling them that institutional money was flowing big time into Bitcoin and Ethereum. This went on and on.
But it wasn’t until MicroStrategy last year began allocating jaw-dropping amounts of money into Bitcoin that things changed. Then Tesla joined in. Then rumors began circulating that Apple, Amazon, and Microsoft were also about to make the plunge. (They haven’t… yet.)
Now, no matter your threshold for “institutional adoption” of crypto, I think it’s safe to say that it’s likely been crossed at this point. From public companies to hedge funds to small investment shops (these are the groups generally included in the umbrella of “institutions”), if a big-name entity hasn’t outright invested, odds are it has at least commented on the asset class or said it’s “watching it closely.”
