Recently, Messari founder Ryan Selkis noted in the "2021 Crypto Investment Theory Report" that the next 2021 crypto market will enter a big bull market, and he also predicts that bitcoin will reach at least $100,000 before the end of 2021.
If the cryptocurrency market can enter a large bull market in 2021, it has a larger share due to the entry of institutions like the bull market this year.
On 11 December, the trading analysis company MicroStrategy announced the issuance of US $ 650 million convertible bonds. According to its fund reserve policy, the proceeds of USD 650 million convertible bonds (approximately USD 634.9 million) will be used to invest in bitcoin.
Earlier, the company had already held more than 40,000 bitcoins.
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On the same day, on December 11, it was revealed that Metrohm Mutual, an established American insurance company, had purchased USD 100 million worth of bitcoins for its general insurance account.
More well known is the "purchase, purchase, and purchase" of the "Mingzhuang" grayscale fund of cryptocurrencies.
Apart from the above institutions, there are many active bitcoin buyers.
According to Bitcoin Treasury data, there are currently 23 entities with over $ 50 million in bitcoins and a total holding of these institutions is 888,864 bitcoins.