Retail investors are on track to buy more bitcoin than institutions in the first quarter, J.P. Morgan analysts say
According to a report from J.P. Morgan strategist Nikolaos Panigirtzoglou, although institutional inflows have slowed significantly this quarter, retail bitcoin investors are catching up, and the amount of retail bitcoin inflows is expected to surpass institutional inflows in the first quarter.
Quarterly data so far show that retail investors are running neck and neck with institutional inflows, with retail investors buying more than 187,000 bitcoins and institutional investors buying about 172,684 bitcoins. In the last quarter, institutional investors bought more bitcoin than retail investors.
According to the analysis, a decline in institutional funding may have played a role in bitcoin's failure to stay above $60,000, but lately, all eyes are now on retail participation, especially given the new round of stimulus measures in the US in recent days.
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