$100,000,000,000,000 Investor Class Starting To Move Into Bitcoin and Crypto, Says Bitwise CIO Matt Hougan

Bitwise CIO Matt Hougan says a cohort of investors holding $100 trillion in wealth is in the early stages of getting Bitcoin (BTC) and crypto exposure.

In a weekly memo to investment professionals, the executive of a Bitcoin spot market exchange-traded fund (ETF) issuer says BTC is in the midst of a “raging” bull market.

According to Hougan, deep-pocketed investment professionals now have access to Bitcoin and crypto following the launch of spot BTC ETFs in January.

“These investors control tens of trillions of dollars globally, the best estimate is over $100 trillion and they are just starting to move into crypto. This is a process that will take years, not months.”

Hougan says the Bitcoin ETFs are collectively the “most successful ETF launch of all time” after witnessing inflows of $12 billion in just three months.

But the Bitwise executive says that the $12 billion of inflows are just a drop in the bucket compared to what’s coming.

“But imagine global wealth managers allocate just 1% of their portfolios to Bitcoin on average. Its not crazy: while past performance is no guarantee of future results, a 2.5% allocation to Bitcoin has enhanced a traditional 60/40 portfolios risk-adjusted returns in every three-year period in Bitcoins history.

A 1% allocation across the board would mean ~$1 trillion of inflows into the space. Against this, $12 billion is barely a down payment.

1% down, 99% to go.”

Bitcoin is trading at $69,367, down 2% in the last 24 hours.

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This article was originally reported on The Daily Hodl.