Bitcoin FOMO intensifies among financial industry leaders

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Updated September 21, 2022 | Published December 7, 2020

2 mins read

The fear of missing out, or FOMO, was never at a higher level among financiers who are now looking to invest in the latest Bitcoin rally.

BTC is reporting a value of $19,147 at the time of writing, with Bitcoin rallying towards the $20,000 mark.

These levels of activity and BTC valuation have not been seen since 2017, when the currency hit a retail-led rally past the $19,000 mark only to come crashing down.

Today, though, more financiers are on tenterhooks about not missing out on the Bitcoin boon and investing their money smartly, as Joanna Ossinger pointed out in her report for Bloomberg this week,

Back in 2017, Bitcoin was not as established as it is today, there were missing guidelines and frameworks, making institutional investors skittish about putting their capital or reputation at stake by following a blind craze.

Unlike consumers did in 2017, mortgaging their homes away for a shot at buying up the digital gold.

Some have argued that Bitcoin is here to replace traditional gold for mainstream investors, who are now looking to diversify their portfolios.

Fidelity Investments, one of the many financial entities out there with interest in Bitcoin, announced earlier this year that it is launching a Bitcoin focused fund.

Bitcoin millionaires are just as keen on adopting digital gold, and this is precisely what is happening right now.

FOMO has crawled under the skin of financiers who are more determined to pursue Bitcoin, despite the possibility of another crash waiting around the corner.

Meanwhile, consumer interest in cryptocurrencies has been soaring, driving a strong interest in crypto casinos, including Bitcasino, BitStarz, and 1xBit.

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Alex

Alex is a well-rounded crypto writer who focuses on general market and legal developments. His main interest lies in how crypto gaming can become a more permanent part of the gaming landscape and how blockchain holds benefits to players they are not even aware of.

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