It's not the public that crypto needs to win over. It's the investment advisors who manage their money.

Mark Yusko, CEO of hedge fund manager Morgan Creek Capital, stated in a recent interview, "We're about three months into (Bitcoin) ETFs, and we've gotten about 10% of what I believe is coming into this space from the registered investment advisers that control all the (...) cash."

Investment advisors manage a staggering $114.1 trillion in collective assets. (Investment Adviser Association, 2022)

Bitcoin's price action over the year has been nothing short of remarkable, even just recently jumping more than 10% in a matter of days, so where is all this money coming from?

While retail investors definitely play a role, several institutional investors have already reported their Bitcoin ETF positions, and they demonstrate a surprising amount of faith in the future of Bitcoin. Here are a few of the most noteworthy:

• Millennium Management - $1.9B

• Schonfeld Strategic Advisors - $479M
  
  

• Morgan Stanley - $269.9M

It's also important to note that this institutional interest isn't just a fleeting trend. Financial giants like Goldman Sachs and Fidelity have also started to embrace Bitcoin, either by offering Bitcoin-related products or by integrating blockchain technology into their operations. This institutional involvement can help mitigate some of the volatility traditionally associated with Bitcoin, as large-scale investments can provide a stabilizing effect on the market.

With improving sentiment among wealth managers, inflation finally cooling down, and the year's first interest rate cuts on the horizon, we could finally see the macroeconomic conditions required for Bitcoin to really take off.

Being irresponsibly overexposed myself, I've definitely got my fingers crossed, but it's important to remember that even ideal economic conditions can't protect you from a black-swan-style event that sends Bitcoin spiraling down to zero. 

While it may seem like nothing but good news for crypto lately, if you're considering getting involved, it's essential that you do your own research independent of what the news might be telling you. And it wouldn't hurt to speak with a financial advisor before going all-in on the next hot meme coin with the kids' college funds.

When you are ready to pick up some crypto, make sure you store it somewhere safe. The Giddy app, for example, offers a secure way to independently manage your crypto assets fully on-chain, so not even Giddy themselves can ever freeze your account or delay your trades.

- Joey Segura