“Retail Investors Will Actually Surge BTC, Not Institutions”

<p>&nbsp;"It's sad but that's the reality, apparently the institution is not the party that can raise the price of BTC."</p><p><br /></p><p>It is not institutions but retail investors who will further strengthen the price of the cryptocurrency Bitcoin (BTC) when Blackrock's filing for the BTC spot ETF is approved, said Michael Shaulov, Chief Executive Officer (CEO) and co-founder of Fireblocks.</p><p><br /></p><p>After Blackrock, several other firms that have also filed BTC spot ETFs have managed to push the price of BTC to its highest level in a year.</p><p><br /></p><p>It is well known that many hope that the involvement of institutional investors in crypto will further increase its price, however Shaulov believes that the situation may not happen after they do it in a relatively quiet way.</p><p><br /></p><p><br /></p><p>There is no denying that a massive inflow of institutional money took place in mid-2020, but digital asset prices did not react until retail investors flocked to buy crypto at the end of the year.</p><p><br /></p><p>So here it can be seen that 50% of the increase in BTC including other digital assets has come from retail investors following them joining the crypto market in a less sophisticated way and moving the price dramatically.</p><p><br /></p><p>While most institutions still question whether BTC is a hedge against inflation or a public reserve currency, Shaulov personally strongly believes that the digital asset is an insurance asset.</p><p><br /></p><p>This is because BTC is completely unregulated by the government and it is one of the digital assets that can be easily transferred without any obstacles.</p><p><br /></p><p>As of this writing, BTC price has climbed by 0.95% to $30,576 in the last 24 hours with a market cap of $593 billion and is up around 6.19% over the last week.</p>