[Analysis] The serious money is warming to Bitcoin - Gregory Barber

“Institutions are coming” is a long-time favorite meme for the digital asset industry. Safe and sophisticated storage tools are the latest effort by the industry to woo traditional investors into “crypto,” explains Wired’s Gregory Barber. From Xapo’s vaults in the Swiss Alps to Coinbase’s elaborate key printing rituals, the “relatively small pool of money” that is cryptocurrency custody today is gunning for the large “room for growth” that Coinbase and Fidelity both believe will come from the institutions. Barber adds context:

In May, Fidelity released a survey of more than 400 institutional investors that found 22 percent already held cryptocurrency, and another quarter saw potential to do so. The companies point to the recent surge in bitcoin’s price as a sign that investors are warming up to crypto.