#Institutions continue to buy Bitcoin.#

Despite the recent sharp decline in Bitcoin prices, institutional buying of Bitcoin continues to bring hope to the cryptocurrency market. Italy's largest bank by market capitalization, Intesa Sanpaolo, has purchased 11 Bitcoins, worth $1 million, which will accelerate Bitcoin adoption in the third largest economy in the European Union. Additionally, corporate bond purchases of Bitcoin have already reached 5,774 in the first two weeks of January, exceeding the supply of new Bitcoins. These institutional investments indicate that institutional investors remain interested in Bitcoin despite the unstable macroeconomic environment. Although the dollar index, US Treasury yields, and Fed rate expectations appear to be undermining the stability of risk assets, institutional demand for Bitcoin continues to grow, indicating that Bitcoin's value and potential are being recognized by institutional investors.