The timing of future large-scale investments moving into the cryptocurrency market could propel price action in 2024.

Roundtable anchor, Rob Nelson, recently discussed institutional adoption of crypto with David Gokhshtein, founder of Gokhshtein Media, and Sue Ennis, head of investor relations at Hut 8. The discussion covered key factors that could drive bitcoin's next price surge, including institutional capital, economic conditions, and geopolitical influences like the U.S. elections.

Rob Nelson emphasized the significant amount of capital waiting to enter the Bitcoin space, ranging from sovereign wealth funds to family offices and financial advisors. "There’s a lot of money that’s going to start moving in," he stated, stressing that the timing of this deployment remains uncertain, but it is inevitable.

David Gokhshtein agreed, predicting the deployment would happen soon. "In the next month or two, you’ll see the charts start moving up again," he said, attributing the delay to institutions waiting for favorable conditions like rate cuts. He pointed to Wall Street players being prepared to make significant moves.

Nelson asked Gokhshtein where this capital would come from, to which he replied that major institutions like BlackRock are poised to invest heavily. “BlackRock, with their $9 trillion in assets, is going directly after Bitcoin and Ethereum,” Gokhshtein explained, adding that their moves will be on their own timeline.

Sue Ennis added that Bitcoin's deployment could be influenced by falling interest rates and the outcome of the U.S. elections.

She also mentioned the potential for bitcoin to capture 1-2% of gold’s market cap, which could drive significant price appreciation. "That would give bitcoin very well north of a $100,000 price per coin," she noted, citing VanEck's predictions for bitcoin's role in global trade and reserve holdings by 2050.

Wealth advisors at major banks like Morgan Stanley had only recently been given the green light to start actively pitching Bitcoin ETFs to clients.