Investor Brian Kelly Suggests Morgan Stanley and Other Institutions May Be Responsible for Pent-Up Bitcoin Demand
Crypto investor Brian Kelly believes that Bitcoin (BTC) is currently experiencing a favorable combination of increased demand and reduced supply. In an interview on CNBC’s Fast Money, Kelly, who is the founder and CEO of digital asset investment firm BKCM, suggests that the entrance of larger brokerage firms like Morgan Stanley and UBS into the Bitcoin market will have a greater impact than the recent BTC halving. He explains that once these firms allow their customers to invest in Bitcoin, the market will experience a surge of pent-up demand. Additionally, Kelly believes that the approval of spot Bitcoin exchange-traded funds (ETFs) will further drive demand in the post-halving environment. He points out that with supply decreasing and demand increasing, Bitcoin is in a bullish position. Kelly also predicts that Bitcoin could eventually become a safe-haven asset like gold, but he believes it will take another 10-20 years for this to happen. Currently, Bitcoin is trading at $66,474 and has seen a 4% increase in the past week.