More than two-thirds (69%) of institutional investors and wealth managers believe that the upcoming halving of bitcoin will increase investment in the cryptocurrency.
This is the finding of a survey conducted by UK-based digital assets hedge fund Nickel Digital Asset Management.
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It found that 18% expect a “dramatic increase” in institutional investment. The survey also shows that two-thirds (63%) expect the halving to lead to an increase in digital asset fund launches amid more competition for investors.
Bitcoin halvings, whereby the rewards for bitcoin miners are cut in half, are designed to slow down the flow of new coins into the market.Previous bitcoin halvings have led to a rise in the value of the cryptocurrency – the last one, in May 2020, saw bitcoin grow by 460% within 300 days.
The survey canvassed institutional investors across the world who collectively manage around US$816 billion in assets.
