iTrustCapital says half of clients bought bitcoin, not chasing prices

An analysis said demand for bitcoin investment is picking up again. About $1 billion was put to work on U.S. wealth platform iTrustCapital last quarter, and hundreds of millions of dollars of clients' cash-like assets shifted into bitcoin purchases.

Bitcoin Magazine reported on Oct. 5 that iTrustCapital Chief Executive Kevin Maloney (케빈 말로니) said such fund flows have recently appeared on the company's platform.

Maloney said iTrustCapital has more than 100,000 clients and that recent investing behaviour is different from simple catch-up buying. He stressed that investors are not buying late after seeing prices surge, saying they are not "chasing candles". He said they are adding bitcoin to portfolios as part of asset allocation rather than reacting to short-term price gains.

A particularly notable area is retirement funds. Maloney said retirement investors typically allocate 5 to 15 percent of assets to bitcoin and similar assets. He assessed such funds as "stickier capital" that does not exit easily even with price volatility, compared with short-term trading funds.

Cash on the sidelines is also moving into the bitcoin market. Of the about $1 billion that flowed into the iTrustCapital platform last quarter, hundreds of millions of dollars were identified as coming from clients' existing cash positions.