According to Coinbase data, the price of Bitcoin is currently at $53,950, a record high since February 23, and there are signs that large institutions are still interested in digital assets.
After China Meitu announced that it would spend $40 million to buy Bitcoin and Ethereum, Ethereum price also rose 3.7%, setting a two-week high.
In addition, Bitcoin technology and solutions provider NYDIG announced on Monday that it had completed a $200 million growth round led by strategic partners Stone Ridge Holdings Group, Morgan Stanley , New York Life, MassMutual, Soros Fund Management and FS Investments. This news also boosted market sentiment.
NYDIG also stated that life, annuity and property/accidental injury insurance companies currently have more than $1 billion in direct and indirect Bitcoin exposure on their institutional custody platforms. "Bulnerability sentiment on Bitcoin and Ethereum is back as more large bets continue to flow into cryptocurrencies. Institutional interest seems to remain strong."
and Ethereum prices are still well below the all-time highs of $58,350 and $1,975, have already recovered from the decline at the end of February. More and more big companies have expressed interest, Goldman Sachs recently confirmed it would restart its cryptocurrency trading division, and billionaire investor Dan Loeb also said last week that he has "deepened" into the cryptocurrency space. "Even if momentum and speculation have been broken," Bitcoin's trading price is still "promising" to reach $75,000," Rich Ross, a technical strategist at Evercore ISI, wrote in a note on Monday.
Source: Sina.com
