It’s totally fair to say that the institutional investors are finally entering the Bitcoin and crypto-asset markets.
Bitcoin has seen a strong rally over the past few weeks and months. In the past month alone, the cryptocurrency has gained 50%. It has become increasingly clear that this rally has been driven by the entrance of so-called “smart money,” or capital from institutional players and billionaires.
It was just revealed that a Mexican billionaire deployed a large portion of his assets into Bitcoin.
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As first spotted in the community by David Puell, a prominent on-chain Bitcoin analyst, the third-richest man in Mexico just revealed he owns a large amount of Bitcoin. The individual, Ricardo Salinas Pliego, purportedly put 10% of his liquid investment portfolio into the cryptocurrency because he sees it as a hedge against government encroachment:
“Mexico’s third richest man,