Institutions, crypto- moneycontinues to attract attention with its buying and selling in the aftermath of the market.
Cryptocurrency Adoption of these technologies and their becoming widespread day by day have led to the global attention to the sector. While many countries are getting closer to the crypto industry, the steps of the institutions have become remarkable. S&P GlobalLooking at the data, since 2018, institutional investment in crypto has reached $ 30 billion.
Before FTX went bankrupt, hundreds of millions of dollars of corporate investments were available in the industry. But lately, the institutional approach to crypto seems cautious.
Enterprise Approaches and FTX
The growing popularity of cryptocurrencies has managed to attract corporate names or organizations to this space. Especially of FTX bankruptcy Before the time he was in, thousands of corporate names had turned to the sector. Although the Terra and FTX crises frightened the corporations, they did not discourage the industry.
Tesla and Bitcoin
from FTX Looking at the previous period, it is seen that giant companies such as Tesla are buying Bitcoin. Especially 2021in the year Tesla, approximately 1.5 billion dollarsHe was holding Bitcoin. TeslaCEO Elon Musk , in each of his speeches, without exception, he referred to cryptocurrencies and continued his maximism on Dogecoin. Such an institutional ownership of Bitcoin and the introduction of a memecoin made a huge contribution to the development of crypto.
After the Terra crisis broke out, Tesla changed his stance and Bitcoinsset up to sell. 11 May 2022took place on terra In the crisis, the cryptocurrency market faced a loss of close to $ 45 billion. Announcing its second quarter report immediately after this event, Tesla, 936 millionin return for his your bitcoins announced that it has sold three quarters of it. The company, which made a big sale, was an indicator of the withdrawal of the corporates. Looking at the first quarter of this year Tesla, It holds about $184 million worth of Bitcoin.
Cathie Wood and Coinbase
Ark Investfounder of cathie wood has managed to attract attention with its warm approach to crypto in almost every period. Wood remains Bitcoin maximalist and thinks crypto will do better in the future. Wood’s thought does not stay on the idea. Founder of Ark Invest, especially coinbasedoes not fall off the agenda with the purchases made on its shares.
The crypto market, which has undergone many crises in a turbulent way, cathie Wood’s does not intimidate. Wood is confident that Bitcoin will reach the $1 million mark in the coming years.
This approach of Wood also plays an important role for Ark Invest. Because Arc Investregularly deals with Bitcoin ETFs.
Cathie Wood highlights her belief in the industry with her stock purchases on the popular crypto exchange Coinbase. Wood has purchased approximately $20 million worth of Coinbase shares since the beginning of this year. Making occasional sales, Wood displays his general orientation as buying and holding.
MicroStrategy and Bitcoin
Michael Saylor’s tech company MicroStrategy made quite a name for himself with the purchases he made on the Bitcoin side. The company, which has been close to Bitcoin for a long time, with strong purchases. holding the most BTCone of the institutions.
Saylor’s shares on Twitter and the accompanying developments FOMO, 2021 It was quite a lot in the year. However FTX With the onset of the crisis, MicroStrategy’s attitude began to change. The company has made its purchases fewer and slower. Despite all this, the company bitcoindoesn’t stop taking it.
Saylor believes that crypto will always go forward. Continuing his maximalist Saylor’scompany MicroStrategy, 140k BTC holding. The value of these BTCs corresponds to about 4 billion dollars.
Robinhood and Crypto
located in California, USA Robinhoodstands out as a corporate company that has gained popularity for its work in technology and crypto. Robinhood, especially with its progress on the crypto side, has managed to attract all the attention.
Robinhood has managed to attract thousands of investors with its services on digital assets and crypto. In addition, the company stands out with its crypto investments.
Announcing its first quarter report of this year, Robinhood is on its revenues in the crypto space. 30 percent It had dropped to close to . The company slashed its previous earnings of $54 million to $38 million this quarter. Robinhood, however, in the first quarter of 2023 441 million earned close to $. The role of crypto in this income is quite large.
Apart from these names, many small institutional investors are also focusing on crypto. Institutions that have invested close to 30 billion dollars in the last five years, FTX started to withdraw after the incident. However, the year 2023 signals that institutions may turn to crypto again.
Especially MicroStrategy , has started to buy Bitcoin very often in recent months. On the other hand, many corporate companies ETFs through crypto. In the period before FTX, it can be said that the above institutions and more were enthusiastic about crypto. Institutions trying to get more involved seem to have been impacted by regulatory shortfalls and major crises in crypto. Although this situation is slowly beginning to break, FTXcorporate as before It is a fact that you are not interested.
