Institutional investors will continue to invest in BTC and major altcoins

On Saturday it overcame a key resistance of $40,000 amid a sell-off of altcoins, but could not hold on to the "heights" and rolled back down.

The Fund of the famous investor Bill Miller plans to invest in bitcoin up to $337 million.

For bitcoin, January was a historic month when the price and network activity soared to new heights. The surge in BTC network activity coincided with growing interest from institutional investors such as Square, MassMutual, SkyBridge Capital, and respected investors including Paul Tudor Jones, Raul Pal and Ilon Musk.

Miller Opportunity Trust fund with $2.25 billion in assets plans to invest 15% of them in bitcoin trust company Grayscale Investments, according to a filing, writes ttrcoin.

Even if Miller Opportunity Trust eventually decides to close its positions in the Grayscale Bitcoin Trust (GBTC), this will remain positive news for bitcoin, as Grayscale trusts have no mechanisms to withdraw the cryptocurrency deposited into them.

Miller himself has repeatedly spoken in support of bitcoin in the past. In January, he expressed confidence that the first cryptocurrency was far from exhausting its growth potential. Miller himself invested some of his capital in BTC back in 2014.

Against the backdrop of a rising market and renewed deposits into the Ethereum trust, the total value of assets under Grayscale Investments' management exceeded $30 billion, of which $24.4 billion came from the bitcoin trust.

Last week, NYDIG investment firm director Ross Stevens said his clients' bitcoin investments could exceed $25 billion by the end of the year. Stevens explained that he was "not guessing," but making a prediction based on applications already in place.

"The new U.S. president is serious about approving another stimulus package of almost $2 trillion. Against this background, bitcoin is getting significant support at the expense of big capital, which is now inclined to buy all assets in a row.

There is a high probability that institutional investors will continue to invest in BTC and major altcoins. Digital currencies get a small share of the pie, but even that is enough to set new historical highs," notes FxPro's analyst team.