If you own a lot of Bitcoin, you are probably always going to be talking up Bitcoin and the people that are talking up Bitcoin, are typically the ones that have a large percentage of a substantial portion of their net worth in Bitcoin. If you are talking up XRP or Ether or whatever, people tend to talk their books.
We are starting to see a kind of slow creep into the system right now, of the institutional investors and there's a quote from Novogratz, where he says, all the architecture that institutions need to feel comfortable with this, is being put in place.
You are starting to see custody come online and that is paving the way for the smart money to enter the space in an actual serious fashion. A lot of the time right now with smart money or larger scale money entering the crypto space right now is through venture funds or through these kind of more nimble highly liquid crypto native funds that are getting investments from these larger scale companies.
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A large fund whether it's a pension fund or a endowment fund or whatever it might be, they are not going to put 50% of their portfolio in something as volatile but some of these funds might put in small percents into cryptocurrency could have a really a large impact.
Probably there is a large amount of impatience in the crypto market. The level of time it takes for certain narratives and for certain compnonets within the cryptocurrency ecosystem to play out in real time because of the trading of cryptocurrency because of that 24/7 365 environment, people are probably inherently impatient and want things fast. When somebody is talking about December 2017, the institutions are coming, we want those institutions to come and save us in to pump our bags tomorrow. But things don't work as people anticipate things, you should have the patience to wait for it.
