“The key to creating some type of stability in the market is to see an increase in the participation of institutional investors and right now they’re small,” he said, adding that, of the more than $600 billion invested in bitcoin right now, “roughly 1% of it is institutional money.”
I would like to know how that percentage was calculated. 1% of $600 billion is $6 billion, and Grayscale alone in their most recent
update have about $21 billion invested in Bitcoin, they are not the only means by which institutional money enters into bitcoin and some bitcoins are lost permanently reducing the active market cap. When you consider all the factors the percentage of institutional money gets more significant.
There is still a lot of room for growth but the effect of smart money can already be felt in the price fluctuation. Bitcoin has relatively sustained its value during this period even though most predicted a large correction, we are yet to witness such a crash.