“Compared to 2017 when the demand came from the retail market, this will eventually happen again, of course, the current demand is coming from an institutional level completely flying under the radar for many people and it looks set to continue through 2021,” Ruffer Investment Management spokesman declared to Reuters.
Ruffer Investment Management currently manages over $27 billion worth of assets, and the sum allocated to Bitcoin is smaller than its average investment.
It is the only financial institution to invest heavily in Bitcoin, there are many other big names such as JP Morgan and Fidelity Investment, PayPal, and Square. Big names like Fidelity that has $3.3 trillion in assets, launched its first Bitcoin fund in June 2020.
Bitcoin is becoming at everyone’s disposal
It is necessary to mention that PayPal allowed its users to buy and sell Bitcoin and other cryptocurrencies using its platform. And this is where Bitcoin earned 70% of its value. All these platforms providing service to customers and crypto geeks contributed to the rise of the Bitcoin price.
