The cryptocurrency industry has always attracted speculators and market makers. Institutional investors have not shown much of an interest in Bitcoin until very recently. Slowly but surely, the tide will turn in favor of all cryptocurrencies. Financial moguls, including George Soros, the Rothschild family, and others, now have their sights set on Bitcoin. It makes for an interesting development, albeit the potential impact has yet to be determined.
Soros, Rothschild, and Co Flock to Cryptocurrency
Interesting things tend to happen in the cryptocurrency world when people least expect. Earlier this week, it became apparent George Soros is looking to trade various cryptocurrencies. The Soros Fund Management venture internally approved the trading of virtual coins in the past few months. So far, no actual “big trades” have has been made, but that situation will come to change very soon.
A similar sentiment can be heard in camp Rothschild. This particular family is best known for their close-knit ties with banks and other financial institutions. As such, one wouldn’t expect them to give Bitcoin a second glance. In reality, it seems this family has been active in cryptocurrency trading for quite some time now. The first rumors began surfacing back in 2017 when Rothschild began purchasing cryptocurrency through GBTC. Buying into a major Bitcoin Trust is pretty significant, even for this family’s legacy.
With this positive tone being set, it is a matter of time until other institutional investors follow suit. Bitcoin is still extremely volatile, but it seems most of the bearish market pressure has subsided. After last year’s crazy run, things have returned to a more normal level for investors. With the Dow Gains and S&P 500 also taking a beating this week, diversification remains key for all parties involved.
No More “Bitcoin Bubble’ Talk
All of these developers come at a curious time. George Soros, for example, called cryptocurrencies a bubble in January of 2018. Less than three months later, he wants to dip his toes in cryptocurrency trading. Whether or not his comment was designed to crash the price, will always remain a mystery. The end result is how Bitcoin lost over 40% of its value. With the dip now ending, the “big guns” are moving in.
In fact, it seems there has been no further talk of a Bitcoin bubble for several weeks now. While Kenneth Rogoff still thinks the Bitcoin will crash to $100, the rest of the world is a bit more optimistic. If institutional investors truly buy Bitcoin in decent quantities, a new uptrend should begin forming pretty soon. The cryptocurrency industry direly needs an injection of fresh capital at this stage.
This new information, combined with upcoming Bitcoin developments, paint an interesting future. All of the stars are seemingly aligning to proper the Bitcoin price back to its all-time high. It may not go as quick as last year, but the momentum is building slowly. Sooner or later, the Bitcoin price will go up once again. George Soros and the Rothschild family will benefit from this positive momentum just like everyone else.