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After Outflows, Advisors Could Fuel Bitcoin’s Next Move
['Quinn Waller']
The Daily Upside
Outflows on Thursday and Friday erased nearly half of those gains, but as the price of Bitcoin stabilizes, analysts expect increased inflows through the second half of the year.
He noted that advisors who meet with clients quarterly may have been reluctant to show Bitcoin on statements during a bumpy first half.
Seeking ClarityUncertainty around the Clarity Act is a likely driver of some of last week’s outflows.
The bill would create a regulatory framework and give institutional investors the legal… well, clarity … they’ve been waiting for.
Despite the recent outflows, Bitcoin will probably continue to attract investors through the second half of the year, said Hougan.