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Discussing the subject of institutional interest toward bitcoin (BTC) with the fintech journalist Paddy Baker, Galaxy Digital founder Mike Novogratz said his company would “suck” if institutional investors don’t come around.
“Bitcoin specifically is a story about adoption,” the billionaire Novogratz told Baker. “And the next big group that’s going to adopt bitcoin as a store of value, as a digital gold, are the financial advisers.”
On June 12, Novogratz also appeared in an AIM Summit video broadcast sponsored by Invictus Capital and said:
Google Trends Shows Retail Interest Sees a Lull" This is the time for bitcoin."
It may have something to do with the coronavirus economy, but retail investor-based interest in digital assets seems to be lacking these days. Google Trends data shows that the searched term “bitcoin” is lower than it was on the week of May 10 through the 16th. At that time, the term “bitcoin” had a score of 80 out of 100 points.
Today, Google Trends (GT) shows the number tied to the term has dipped to 44 points. The phrase “buy bitcoin” used to be at the highest level of 100 on that same May 10-16 week, but today “buy bitcoin” is around 66 points for GT data.
Google Trends (GT) data for Friday, June 19, 2020, is 66 points. On the week of May 10-16, the “buy bitcoin” phrase touched 100 points.
On Thursday, news.Bitcoin.com covered a number of economists and macro traders on Twitter who are extremely optimistic toward bitcoin’s future performance. The “bitcoin price target is set at five times the prior high,” explains a Finsmes crypto market analysis on June 18.
“Finally, bitcoin is no longer an asset that exists solely in the digital universe. Instead, bitcoin futures trade alongside other commodities on the Chicago Mercantile Exchange. Institutional investors are taking a bigger interest in bitcoin and the broader cryptocurrency industry,” the Finsmes bitcoin price analysis further noted on Thursday.