On the other hand, there was just a thread in Economics about how some big players were buying coins over the counter, bypassing exchanges--so there are some investors with deep pockets getting into crypto. It just hasn't become widespread yet.
THis is a smart way of accumulating in bear market. If you have a lot of money invested elsewhere it takes time to liquidate and move to something like Bitcoin. You want the bear market to last as long as possible and sudden moves might end it prematurely. Also, you don't want to get involved with shady exchanges that could get hacked at any time. If I had 50 million or more to play with I'd be looking to trade it in person via a trusted proxy to stay anonymous and off the books.