A large narrative over the past few months is the introduction of institutional capital to the Bitcoin space.It began in 2020 with Paul Tudor Jones, a billionaire Wall Street investor who put a few percent of his fund into BTC futures. He did this in preparation for the May halving, writing that Bitcoin’s scarcity will make it the “fastest horse in the race” in a world where there is rampant inflation.Jones’ peers on Wall Street followed suit.Many macro investors, who are known for making asymmetric bets like BTC and crypto is, have since bit the Bitcoin pill. Family offices, too, are starting to making allocations to Bitcoin as they look to diversify out of overvalued assets.Yet not all of Wall Street is in on Bitcoin.Case in point: Fidelity Investments alone has more than $3 trillion in assets under management, which is three times the market capitalization of the cryptocurrency space.Guggenheim Investments CIO Scott Minerd, who recently caught the Bitcoin bug, said in a recent interview that more investors should allocate a small amount of their portfolio to this space.Bitcoin should be bought by most investorsSpeaking to Bloomberg in an interview published Friday, Minerd commented that most if not all investors should have a few percent of their portfolio in Bitcoin. He said:

“2% of your portfolio will be 20% of your portfolio before this is over. So, you don’t want to get too overweight, but certainly an allocation of a couple % of your portfolio seems to be a prudent play.”

The comment basically implies that BTC could appreciate 1,000 percent in the coming years to bolster small allocations to Bitcoin to larger ones.This is similar to comments made by investors such as Tudor Jones. They say that having Bitcoin in your portfolio is a rational bet due to the extreme overpricing in other asset classes and the vast amount of inflation taking place in the economy and in financial markets.Minerd caveated his interview, though, by stating that he thinks Bitcoin is currently in a short-term “speculative frenzy” or mania.He specifically pointed to the fact that crypto exchanges such as Coinbase and others are being overloaded to the point where they seriously cannot operate and have had to limit some demand.Bitcoin may not have topped yet, though. As reported by CryptoSlate previously, the cryptocurrency held a key technical support level during Monday’s correction.


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