The subsequent bitcoin price collapse, branded crypto winter for its debilitating effect on the burgeoning sector, came as the world's biggest banks and money managers appeared to remain on the sidelines of the bitcoin and crypto market. Now, with bitcoin and cryptocurrency asset manager Grayscale revealing inflows of $600 million in 2019, more than 2013 through 2018 combined, institutional money seems to have finally arrived—just as bitcoin records its strongest start to a new year since 2012. Many bitcoin and cryptocurrency investors and traders have long expected institutional money to flow ... [+] into the sector. Getty ImagesGrayscale has announced it raised $607 million in 2019, with cumulative investment across all of its products reaching $1.17 billion. "While gold and bitcoin share many attributes, bitcoin outshines gold given that it is more divisible, portable and has greater utility," Sonnenshein said.

Source: Forbes January 16, 2020 13:52 UTC