Institutional Interest in Bitcoin to Keep Rising After BTC Halving

[SRShanuka2020]

Institutional Interest in Bitcoin to Keep Rising After BTC Halving

Having recently gone through the third halving, one of the most important events in the ecosystem, Bitcoin (BTC) continues to establish itself as a new asset class and a worthy contender to gold as a new store of value for the digital age. Having seen a dip in price from the $10,000 levels to $8,500 just a few days before the halving, the Bitcoin price has remained below $10,000 even after the event.

Seeing its production cut in half in a matter of seconds, Bitcoin’s scarcity and low stock-to-flow ratio makes it an attractive investment for those looking to shield themselves from the inflation associated with fiat currencies and from political instability. Institutions seem to be no different, as regulated Bitcoin derivatives volumes started to post growing numbers in the midst of the halving.

The Chicago Mercantile Exchange’s volume for Bitcoin options reached an all-time high on May 11, at over $15 million, and has since been growing, reaching $40 million on May 13, according to data from Skew. The BTC futures market also recorded high volumes, reaching a three-month high on May 11 and registering just over $900 million worth of contracts exchanged for the day.

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