In the wake of the coronavirus pandemic, interest in traditional instruments has waned sharply among institutions and companies.

Due to economic uncertainty, more investors are opting to invest Bitcoin Evolution in cryptocurrencies, rightly believing they are the safest form of capital storage at the moment, The Block quoted Gutmann as saying.

Dan Morehead, CEO of Pantera Capital, previously expressed a similar view. He also stated that institutional interest in bitcoin is at an all-time high. He also predicted that BTC would reach $115,000 by August of this year.