/biz/ - Business & Finance

>>24877289
>Earlier this month, Ray Dalio, the legendary billionaire founder and co-chairman of the world's biggest hedge fund, Bridgewater Associates, admitted bitcoin's now established itself as a "gold-like asset alternative."

>Bitcoin's surge over $20,000 comes after a Reuters report claiming fund manager Ruffer Investment Management has moved around $675 million of its clients' money into bitcoin. Earlier reports had suggested the London-based firm, which manages around $27 billion worth of assets, had allocated a far smaller sum to bitcoin.

>"Compared to 2017 when demand came from the retail market, this will eventually happen again, of course, the current demand is coming from an institutional level completely flying under the radar for many people and it looks set to continue through 2021," Scott added.

I've read all the news articles so far this morning and almost all mention that this is institutional investment driven and 2021 is looking great for bitcoin.