The start of February has brought yet another batch of evidence supporting the notion that the ongoing surge of crypto prices has deep institutional roots. Ignited by market whisperer Elon Musk and his Tesla’s announcement of a $1.5-billion Bitcoin position, the bullish cycle was reinforced by further news coming from the likes of Mastercard, Amazon and BNY Mellon.
The level of interest around the industry is certainly rising, as Bitcoin’s (BTC) price is rapidly becoming a widely discussed topic on most finance-oriented TV stations. With large corporate players at the helm of the rally, is the public firmly in the back seat, or does it have a say in how long the party will last?
The power of community
The power of corporate players to move crypto markets comes from two interrelated sources: their own capital invested in digital assets and the capacity to lead public sentiment, often by their own example.
Some companies wield greater social clout than
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