Pent-up Bitcoin Demand Could Come From Morgan Stanley and Other Institutions: Investor Brian Kelly
Cryptocurrency investor Brian Kelly believes Bitcoin (BTC) has reached the intersection of increasing demand and decreasing supply.
In a new interview on CNBC’s Fast Money, the founder and CEO of digital asset investment firm BKCM said seeing large brokerage firms jumping into Bitcoin will have a bigger impact than the recent BTC halving.
“So UBS’s Morgan Stanley is going to have a lot of pent-up demand once it comes online and customers start using Bitcoin.”
Kelly said the recently approved spot Bitcoin exchange-traded fund (ETF) would also boost demand in a post-halving environment.
“If you think about it, you now have the most in-demand asset ever. Yes? All these people can come and the supply gets cut and the coins on the exchanges go down, causing a lot of pent-up demand and potential demand to be met with reduced supply. That seems optimistic to me. “Setup for Bitcoin.”
The cryptocurrency investor also predicts that BTC could eventually become a safe-haven asset like gold, but he doesn’t think that will happen within 10 to 20 years.
At the time of this writing, Bitcoin is trading at $66,474. The top cryptocurrency asset by market capitalization is up more than 4% in the past week.
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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and that you will be responsible for any losses you may incur. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.
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