Massive Selloff Doesn’t Stop BTC Institutional Adoption
By Omkar Godbole (All times ET unless indicated otherwise)
“I don’t understand how can anyone think BTC is not a bargain at these prices…,” Andre Dragosch, head of research – Europe at Bitwise, said on X Monday as BTC’s price dipped below $90,000.
While the comment may appear overly optimistic to macro bears, it is not without justification. Even as the DXY, Treasury yields, and Fed rate expectations look to destabilize risk assets, corporate and institutional demand for BTC continues to strengthen.
Intesa Sanpaolo, Italy’s largest bank by market capitalization, has reportedly purchased BTC, snapping up 11 BTC for $1 million. That could accelerate crypto adoption in the European Union’s third-largest economy, which already has 1.4…
