run in 2021.
The entry of institutional investors into the crypto market is one of the most talked about topics in the crypto space right now. Though it’s possible that many of them had already been considering making the move before 2021, the current bear market has made the entry of these large asset managers even more pertinent.
Leading the charge for a spot Bitcoin ETF is BlackRock, one of the largest asset managers in the world. This is a far cry from the anti-crypto sentiment held by many of these same institutions just a few years ago. For example, in 2018 Goldman Sachs, just like many of the asset managers of today, were very vocal about their disapproval of Bitcoin. They wanted to see the digital asset die and declared that Bitcoin would never recover from the 2018 bear market.
But Bitcoin has proven its resilience, recovering from the 2018 bear market and going on to experience its biggest bull run in 2021. It’s clear that Goldman Sachs, and many other institutions, have had to re-evaluate their opinions of Bitcoin, with the asset manager now recognizing Bitcoin as the best-performing asset of the year.
The crypto market has seen drastic changes since 2018, with many of the same institutions that once wrote off Bitcoin now investing millions in the digital asset. The entry of institutional investors is a sign that crypto is becoming more mainstream and, despite the current bear market, the future of crypto looks bright.