Although traditional markets continue to shake, bitcoin continues to show strength. The question many are asking is who is currently buying Bitcoin. The well-known Michael Novogratz seems to have a suitable answer to this.
Who is currently buying Bitcoin?
Bitcoin is gaining strength from day to day, but who is currently buying into the market? If Galaxy Digital CEO Michael Novogratz, who is also known as the Bitcoin Bull, is now institutional investors. He made this statement during a performance on CNBC’s “Closing Bell”.The former Wall Street hedge fund manager believes that many hedge funds are likely to make announcements about adding the benchmark cryptocurrency to their assets.“We see a lot of new investors in this area. Hedge funds buying bitcoin. Not just like individual managers, they buy BTC in their funds.
Central banks continue to print money, while Bitcoin is close to the highly anticipated halving event that will cut daily supply by 50%. This event will take place on May 11, 2020, putting Bitcoin’s annual inflation rate below that of gold.After the US stock market rallied impressively, the past few days have been somewhat more restless.