Argo Blockchain Share Discussion Threads

[338] 26/7/2020 18:47

Screaming BUY!!!!

Key Metrics Show Institutional Demand for Bitcoin Is Surging Rapidly
Grayscale’s $1.4-billion inflow in the first half of 2020, along with two other key factors, shows institutional demand is surging rapidly

Since early 2020, the institutional demand for Bitcoin (BTC) has been steadily increasing. In the second quarter of this year, data show that the appetite for BTC spiked significantly. According to crypto asset fund Grayscale, its products recorded an inflow of $1.4 billion in capital. The investment firm is best known for the Grayscale Bitcoin Trust, which allows institutions in the United States to gain exposure to Bitcoin through a publicly-traded over-the-counter stock.

If the demand for Bitcoin climbed steadily in the first three months of 2020, it surged rapidly from March to June. One possible explanation for the sudden increase in attraction toward Bitcoin is its crash in early March when Bitcoin’s price briefly dropped below $3,600 on BitMEX. More than $1 billion worth of futures contracts were liquidated, but in the 72 hours that followed, the volumes in retail markets surged substantially, especially on platforms like Coinbase.

Similar to their retail counterparts, institutional investors likely bought large amounts of BTC after the major correction. The assets under management of the Grayscale Bitcoin Trust rose from $1.577 billion to $3 billion, from March 17 to May 13.

Overall, three key data points show that the institutional demand for Bitcoin has been rising, particularly in Q2 2020.

Grayscale records $1.4 billion in inflows in the first half of 2020
In a single quarter, Grayscale’s products recorded an inflow of nearly $1 billion. The $905.8 million quarterly inflow raised total inflows in the first half of 2020 to $1.4 billion. Grayscale’s half-year report reads: “Total investment into Grayscale’s family of products hit $905.8 million in 2Q20. To put that into context, that’s nearly 1.5x the capital raised during all of 2019, and following a record quarter in 1Q20.”

The Grayscale Bitcoin Trust is considered an accurate metric to measure institutional demand for Bitcoin since the U.S. and Europe have not yet approved an exchange-traded fund around Bitcoin or cryptocurrencies. The absence of exchange-traded funds in the U.S. and Europe narrows down the options for accredited and institutional investors. Institutions can choose among the Grayscale Bitcoin Trust, custodial services and direct OTC trades. But, custodial services are not widely-utilized, and direct OTC dealings can cause security vulnerabilities.

Primarily due to a lack of options, institutions typically use the trust to gain exposure to Bitcoin despite its high market premium. Grayscale emphasized that 84% of investments came from institutional investors in the first half of 2020. The record-high quarterly inflow into Grayscale’s products and the fact that the overwhelming majority came from institutions suggest institutional demand surged in the second quarter.

But in recent weeks, the rate of Grayscale’s accumulation of Bitcoin has slowed down. The filings of the investment firm with the U.S. Securities and Exchange Commission showed the company has not bought a single Bitcoin in three weeks. Speaking to Cointelegraph, a Grayscale spokesperson clarified that the trust was placed in an administrative quiet period, which is also called a “waiting period” by the SEC. The halt in purchases is temporary, and it does not necessarily mean that institutions have stopped buying BTC.

[338] 26/7/2020 18:45

GAME CHANGER!!!!!!


Banks are starting to operate custodial services


Since January 2020, major banks across Asia, Europe and the U.S. have started to prepare crypto custodial services, indicating that they see a certain level of demand for Bitcoin from clients. In January, Switzerland’s third-biggest bank, Julius Baer, partnered with Seba to launch digital assets services.

Two months later, South Korea’s largest bank, Kookmin, filed a trademark application for a crypto custodian solution. Speaking to a local publication called Digital Today, a Kookmin Bank spokesperson said the trademark is related to its partnership with Atomrigs Lab in 2019, which was brought about to develop a custodian platform called KBDAC. Local analysts said that the bank is likely far into product development at this point.

This week, Standard Chartered reportedly confirmed to be developing a crypto custody solution.

Standard Chartered’s venture and innovations arm called SV Ventures is attempting to aid the start of the institutional adoption of cryptocurrencies. The firm’s entrance into the cryptocurrency market suggests that it has been seeing growing demand for Bitcoin and cryptocurrencies, in general, in the global market.

[aidenabettin] 26/7/2020 18:00

hTTps://dailyhodl.com/2020/07/26/weiss-ratings-says-one-crypto-will-become-centerpiece-of-billion-dollar-revolution-and-its-not-bitcoin-btc/amp/

[plat hunter] 26/7/2020 17:07

Blockchain is going mainstream

[plat hunter] 26/7/2020 17:05

I'm not shorting crypto...Do some research new guy

[1new guy] 26/7/2020 16:58

My question is if Plat the Pr*t is shorting crypto and ARB how much will he lose this year?

[gspanner] 26/7/2020 15:42

Goin mainstream Plat, don’t miss out!

[plat hunter] 26/7/2020 15:24

That's an advert.. It doesn't answer the question

[aidenabettin] 26/7/2020 14:07

hTTps://btcmanager.com/bakkt-galaxy-digital-institutional-bitcoin-demand/?q=/bakkt-galaxy-digital-institutional-bitcoin-demand/&

[aidenabettin] 26/7/2020 13:49

The UK(london) will play a major role in the money laundering process.The authorities ?.Wont bat an eyelid

[aidenabettin] 26/7/2020 13:48

Institutional demand is there 100%.The volatility is not a problem but the security was.Security has improved dramatically and that will allow $Billions to flow from the tax havens into Crypto

[plat hunter] 26/7/2020 12:54

Is it really?LolDefine surging, as a ratio of institutional yearly asset allocation

[338] 26/7/2020 12:47

Demand of BTC from institutions is surging

[aidenabettin] 26/7/2020 12:38

$BTC rocket liquidates $75M.Be careful

[plat hunter] 26/7/2020 12:03

Looks like everyone is a getting desperate to sell with all this ramping.Someone need liquidity do they?

[royalalbert] 26/7/2020 11:39

Should see a few more buyers tomorrow, with BTC chart becoming interesting.

[dennisbergkamp] 26/7/2020 11:26

A divi would definitely launch us.

A return to 6p+ is well overdue!!
D

[royalalbert] 26/7/2020 11:18

P.S a divi payment would not go amiss either.

[royalalbert] 26/7/2020 11:17

Dropped back a bit, but sure is looking good. This share will explode one day but could do with a few more director buys.

[aidenabettin] 26/7/2020 11:09

Just smashed through $10k

[338] 26/7/2020 09:34

BTC short term target $10,300 (aug/sep)
.... $14,000 in December 2020

[hootza616] 26/7/2020 07:32

Another tick up for BTC there. Let's hope it holds until the market opens Monday.Anyone who thinks ARB is a pure bet on the long term value of BTC must be called Sherlock!I have previously invested directly in all sorts of crypto as well as funds such as GBTC. This is the only one I can still have in my ISA and SIPP which is why I am here.There's plenty of people ramping and dismissing BTC from all sorts of high places so anything said here is noise.

[parsons4] 26/7/2020 07:04

What has become of this site with aiden…… and PH just posting rubbish all day long. BTC is real and ARB are a great way of multiplying any upside in BTC end of story.