Wednesday, April 14, 2021
Home Crypto News Market According To Messari Analyst: In 2021, Institutions Will Buy Ethereum

According To Messari Analyst: In 2021, Institutions Will Buy Ethereum

- Advertisement -

Messari analyst Ryan Watkins expressed his opinion that in 2021, institutional investors will start buying Ethereum along with Bitcoin.

Watkins expressed his views on the social network Twitter. He explained that with the adoption of Bitcoin and the realization that the BTC is really a valuable asset, the leaders of organizations will become more open to other cryptocurrencies. For those who have already invested in Bitcoin, it will be much easier to invest in Ethereum, which occupies a second place by market capitalization.

In the second half of 2020, many large firms invested in Bitcoin. In August, MicroStrategy invested $250 million in Bitcoin, after which it acquired BTC for another $175 million. Square, created by the head of Twitter Jack Dorsey, did not stand aside – in October, the company announced the purchase of Bitcoin, with the amount of $50 million.

Watkins also mentioned a recent statement from the Chicago Mercantile Exchange (CME Group) about the launch of ETH futures trading in early February 2021. According to the analyst, CME would not launch such products if there was no demand for them. When CME added Bitcoin futures, institutional investors did not yet have a full understanding of the cryptocurrency and its value.

 

Now, many firms see bitcoin as a tool for saving capital in times of economic crisis. Watkins believes that along with involvement in Bitcoin, companies are forming a more loyal attitude towards ETH.

This weekend, Bitcoin reached a record high in the history of its existence – $28,420, but now it has fallen back to $26,200. The Ethereum price also made yearly highs, breaking through the $700 mark. The price of ETH almost coincided with the expectations of analysts who predicted that by the year-end (2020), Ether will be worth $790.

- Advertisement -
Mark Brennan
Mark Brennanhttps://thecryptobasic.com/
Mark is 27, holds a Master degree in Business Administration, and works as a content Creator at TheCryptoBasic mostly on Crypto Market Updates. Since 2014 he has been active in the crypto sector. Thanks to the Business College in which other than Business subjects, he was taught about the disruptive potential of Blockchain. His interests include Blockchain technology and Crypto Market innovations. He also founded a small startup in which he gives lectures on cryptocurrencies.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Recent News & Articles

Binance List the Coinbase Stock Token (COIN)

Binance will list the Coinbase Stock Token (COIN) on 2021-04-14 (UTC), during which the COIN/BUSD trading pair will be open. Users will be able...

6 Blockchain Business Use Cases You Should Know

The potential of the distributed ledger technology (DLT) — an umbrella term of which blockchain is the most popular kind — is enormous. Businesses...

Europe’s Largest Digital Asset Investment Firm CoinShares Launches XRP Exchange Traded Product (ETP)

CoinShares, a major British cryptocurrency investment company, has announced it plans to list XRP (Ripple) exchange-traded fund (ETP) on the SIX Swiss Exchange. This ETP...

Coinbase Stock Hits The Market And Gets Reference Stock Price of $250 from Nasdaq

Nasdaq has released the figures for the reference stock price of Coinbase, the largest cryptocurrency exchange in the United States, which is scheduled to...

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.

follow us in feedly