The value of Bitcoin Futures bought by institutions doubled in October

Institutional investors have doubled their buying orders for Bitcoin Futures this month.

Organizations want long-term races

According to data analyst Skew Markets on October 22, the value of buy orders of institutional investors increased from 500 BTC (4.11 million USD) to 1,000 USD (8.23 million USD) on October 16. .

This move contrasts with what happened in September, after the Bakkt contract coincided with the $ 1,300 plunge of Bitcoin. Whereby:

“Organizations that include funds, insurance companies, mutual funds and portfolio managers are active activists.”

What happen?

Bitcoin futures from what was supposed to be a long-term solution of major institutional investors were immediately skeptical after BTC plummeted.

Despite mixed opinions, big players have begun to show special interest.

According to Cointelegraph, Grayscale, the world’s largest crypto asset management unit, confirmed that a large amount of money was flowing into the portfolio in 2019.

“We see the organizations investing in us and it’s a long-term game,” said Rayhaneh Sharif-Askary, sales manager, Rayhaneh.

However, a few other sources are quite skeptical about the impact of institutions on Bitcoin. This week, CoinShare Chief Strategy Officer Meltdem Demirors affirmed that these types of investment takeovers need to be carefully analyzed.