Numbers that make you dizzy. For ordinary mortals, speaking in billions is rather rare, so handling tens of trillions of dollars requires a certain concentration. Yet these are the types of numbers we are going to talk about today, because they concern the finance giants who have astronomical sums of assets under management. To have an order of magnitude, the gross domestic product of France, or GDPamounted to approximately 2,300 billion euros in 2022. These companies, which are literally richer than many States, are looking insistently on the bitcoin and crypto side and seem ready to switch to it with greed. This is the observation made by Meltem Demirorschief strategy officer at CoinShares and a keen industry watcher.
27 trillion dollars, and me, and me, and me…
The ETF application filed by BlackRock a few days ago raised as many hopes as fears from the crypto community. Between those who see in it the positive sign of the arrival of financial institutionsand therefore of a potential price increase, and those who regret that Bitcoin fall into the hands of these “sharks”, the debates are lively. However, as recommended Meltem Demirorsit is interesting to take a step back and look at the road traveled before projecting ourselves reasonably into the future.
This is how she listed eight major financial institutions that have shown, in one way or another, an interest in Bitcoin and cryptos in recent months. As can be seen from the table below, there are BlackRock, Fidelity, JP Morgan, Morgan Stanley, Goldman Sachs, BNY Mellon, Invesco And Bank of America who between them manage more than 27 trillion of dollars ! Needless to say, his intervention applies only to the United States and does not take into account other investment or management funds in the rest of the world. In this chart, she details how companies have gotten involved in Bitcoin so far. It even distinguishes between those who make partnerships and those who build their own tools, but somehow they have already set foot in crypto.
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The general public in the sights of the financial giants
To those who retort that all this is onlyembryonic and does not represent a lot of money, she prefers to answer that “bridges are built in real time”. Having worked in consulting at Deloitte then having cut her teeth in crypto at Digital Currency Group as director of development, Meltem Demirors knows international finance and knows how to recognize the weak signals that are often the prelude to adoption by the general public. For her, these eight companies are patiently in the process of position on this new asset that is Bitcoin and they could, in the medium or long term, pour part of their billions under management there.
However, it recognizes that there is a condition sine qua non for this to happen and it is about adoption and understanding by the general public. She also had fun constructing this little image above which compares, with tenderness, the cypherpunk from the origins to its father, which represents the average American. Risk tolerance and ability to make “complex manipulation” separate these two profiles and companies must be able, according to her, to speak to everyone and to offer services adapted to all types of investors in order to conquer the widest possible audience.
Finally, for this financial market specialist, the dominoes are already falling and if we continue on this path, it is only a matter of time before we see major financial movements taking place in the sector. of crypto. She is not the only one, and the wildest predictions are already circulating around a Bitcoin price oscillating between $500,000 for the Winklevoss or outright 1 million for Ark Invest.
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