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According to Bithumb, the largest virtual addition exchange in Korea on the 27th, as of 9:20 a.m. on the day, the price of bitcoin is trading at around 29.5 million won, a surge of more than 5.6% compared to 24 hours ago. Even in CoinMarketCap, which averages the prices of major exchanges traded in dollars, the bitcoin price has surged close to 8% to maintain the level of $26,560.
This rise in bitcoin price can be interpreted as a result of the continued buying trend of institutional investors. Also, according to the Sunday Times of the UK, a fund called’Rougher Investment Trust’, which is managed by an investment company in the UK, Lerfer, has bought bitcoin at a level of 2.7% of the fund-level assets of £550 million.
In addition, the interest of individuals who have been silent for a while following the institution is also increasing, which is interpreted as following.
In fact, according to Blockchain.com, the number of e-wallets created on virtual asset exchanges so far this year has increased by 40.46%. In the year since December of last year, the number of new wallets has increased by 18 million. In addition, it is still only a fifth of the highest level in history, but thanks to the recent price increase, the keyword search volume of’buy Bitcoin’ in Google, which is aggregated by Google Trend, is also gradually increasing.
Nigel Green, CEO of De Beer, a financial advisory firm, said, “Institutional and Wall Street investors with tremendous expertise and capital are entering the bitcoin market, which is why bitcoin is approaching a short-term peak. It will increase the interest of the people,” he said. “Investors seem to be increasingly admitting Bitcoin as a legitimate inflation hedge.”