Bitcoin’s latest exponential bull run has created huge ripples not only in the crypto space but the mainstream financial world as well. One of the massive changes spotted in the traditional financial industry recently is growing interest for BTC among institutional investors. Speculations are rife that investors are now more interested in BTC than gold.

In that light, mention must be made of a report released by the esteemed JPMorgan last week. The report has clearly provided evidence that there is a rise in institutional demand for BTC. Not only that, the report has also shared that investors are fast shifting from gold ETFs to Bitcoin. JPMorgan has further stressed that the ever-evolving demand for Bitcoin is not only steered by young retail investors but even by institutional investors, like asset managers and family offices. 

JPMorgan’s  report on BTC last week includes a comparison between GBTC (Grayscale Bitcoin Trust) and gold ETFs. As per the report, the GBTC has shown a steeper cumulative flow trajectory over the last month. Put simply, Bitcoin’s rising demand is especially evident in the sharp ascension of GBTC. On the other hand, gold ETFs’ graph also shows a growth but the scale of growth of GBTC has been way higher recently. 

According to experts, the increasing demand in Bitcoin and the sharp ascension of GBTC is largely driven by huge support shown by corporate giants lately. 

“Paypal has recently launched a cryptocurrency service and that certainly includes Bitcoin. Then, you have NYSE-listed Square which has allocated 1 percent of total assets into BTC. Another major name here is MicroStrategy that has invested a whopping 425 million USD in BTC. Such heavyweight moves have certainly played a huge role in driving the demand for BTC, especially in the mainstream financial market”, noted Sydney Ifergan, leading blockchain expert and CEO of The Currency Analytics.

It’s to stress here MicroStrategy founder Michael Saylor was initially a Bitcoin skeptic. Cut to 2020, Saylor has made Bitcoin the primary Treasury reserve asset of his company. Another great Bitcoin critic who has recently admitted about Bitcoin’s potential to some extent is famous American economist Nouriel Roubini, better known as Dr.Doom.

When it comes to investors increasingly taking to BTC over gold, mention must be made of esteemed American billionaire and investor Stanley Druckenmiller. It’s to stress here, Druckenmiller has always been one of the most heavyweight investors in gold. But currently, the leading billionaire has noted that Bitcoin actually holds serious value-potential for the future generations.

In one of his recent interviews with CNBC, Druckenmiller stated that although he has made a fair share of investment in gold yet lately he has also made a considerable amount of investment in Bitcoin as well. Speaking on his new favorite asset (read BTC), the American investor said the coin has been around for more than a decade  now and has become more stable with every passing day. 

Bitcoin has currently crossed the $15k mark, just two days after crossing the $14k mark, and is poised to cross $16k shortly.