Matrixport Report: US Institutions Account for 85% of Bitcoin Purchases

According to reports, Matrixport’s latest report cites that Bitcoin is up 40% this year, with 35% of the return occurring during U.S. trading hours, which means that “85% of the contribution” is related to U.S. investors, indicating that U.S. institutions are currently Bitcoin’s favorites. buyers. The report concluded that this "should be a very positive sign for Bitcoin" as institutional adoption continues. Markus Thielen, director of research and strategy at Matrixport, said the data shows that institutions are not “giving up on crypto,” a sign that we may be entering a new “crypto bull market.” Thielen added that previous data has shown that institutions typically start buying bitcoin first, before investing in other cryptocurrencies.