The institutions are finally figuring it out that it really is all about bitcoin and building trading, exchange, settlement and international transmittance layers on top of Bitcoin.
Eh...they're not actually. They're figuring out it's about diversification. Not least because of 3 things:
1. no investor in possession of their senses doesn't diversify their portfolios within any asset class
2. they understand that monetary assets are not a natural monopoly
3. they understand that the most expensive asset in the class does not always have the most upside
The "God made bitcoin so we don't need anything else" delusional hopium in this thread is quaint, but you already lost that war 5 years ago and diversification is a one-way street. That is one genie that does not go back in the bottle.
Tokonormal.
How are competitors against Facebook doing? Against Apple? Against Amazon? Against Netflix? Against Google? Do you want to diversify into second tier versions of the FAANGs?
No you do not.
They each completely dominate their market segment.
As does Bitcoin.
Diversification is about picking the best of each market segment and buying a little of each. It is not about chasing penny stocks.