Pent-up demand for Bitcoin could come from Morgan Stanley and other institutions: investor Brian Kelly – The Daily Hodl

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Pent-up demand for Bitcoin could come from Morgan Stanley and other institutions: investor Brian Kelly – The Daily Hodl

Crypto investor Brian Kelly believes Bitcoin (BTC) has reached a bullish intersection between increasing demand and shrinking supply.

In a new interview on CNBC’s Fast Money, the founder and CEO of digital asset investment firm BKCM says seeing larger brokerages jump into Bitcoin will have a bigger impact than the recent BTC halving .

“So Morgan Stanley, UBS – once they’re online and they can get their clients to start accessing Bitcoin, that’s a lot of pent-up demand.”

Kelly says the recently approved spot Bitcoin exchange-traded funds (ETFs) will also drive demand in the post-halving environment.

“If you think about it, you now have an asset with the greatest demand it’s ever had, right? You have all these people able to come in, and the supply has been reduced, the coins on the exchanges are down, so you have a whole bunch of pent-up and potential demand hitting a lower supply – to me, that’s is the optimistic setup for Bitcoin.

The crypto investor also predicts that BTC could eventually become a safe haven like gold, although he doesn’t think that will happen for another 10 to 20 years.

Bitcoin is trading at $66,474 at the time of writing. The top-ranked crypto asset by market capitalization is up more than 4% over the past week.

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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should conduct due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and transactions are at your own risk and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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