Posted 4 months ago | by @devadmin

Shaan Puri who serves as Twitch.tv’s director has announced on Twitter that he has put 25% of his net worth into Bitcoin. Puri believes that Bitcoin presents “a rare opportunity to front-run a wave of institutional capital.”

Shaan Puri, the director of Twitch, the streaming video platform owned by Amazon, announced via his Twitter account that he has moved “25% of his net worth into Bitcoin.”

Puri tweeted the following on Thursday:

While his initial tweet isn’t clear what the 25% was, a Twitter user asked him if he was referencing his net worth. In which, Puri replied, “Yup,” affirming the suspicion.

The Twitch director further stated, “Bitcoin is the only asset where you can go irresponsibly long – and then everyone tells you it’s not enough. And they’re probably right.”

Puri further elaborated in another tweet.

“I think it’s a rare opportunity to front run a wave of institutional capital that will come into BTC in the next 2 years.”

Puri added, “I think people think this time it hits $20k is ‘just like last time’ but it’s not for many reasons.”

Amazon’s Twitch recently started accepting crypto payments again earlier this year. Users can pay for subscriptions in bitcoin, ether, bitcoin cash, XRP, USDC, GUSD, PAX or BUSD. Twitch even offers its users a 10% discount if they pay for a subscription using cryptocurrency encouraging its usage. Twitch introduced a cryptocurrency payment option in 2014 but removed it in Q1 2019; then it was brought back in June of this year, Coindesk reports.

This is also Amazon testing the waters with Twitch but very few seem to realize that the megalithic e-commerce giant is even doing this.

As Bitboy Crypto has reported more and more institutional investors are flocking into the crypto space recently. Platforms that support institutional investors, such as Grayscale, have seen huge inflows of Bitcoin over the last six months, much of which is even investors selling gold swapping for Bitcoin, JP Morgan analysts stated.

“The adoption of bitcoin by institutional investors has only begun, while for gold its adoption by institutional investors is very advanced,” said JPMorgan quantitative strategist Nikolaos Panigirtzoglou.

Puri isn’t the first to say that investing in Bitcoin could be front running institutional capital former Goldman Sachs exec and legendary hedge fund investment manager Raoul Pal believes that same narrative as well. Pal previously expressed in an interview with Jerry Hall that Bitcoin is “an opportunity for retail to front-run the institutions for once as opposed to Goldman Sachs front running us.”

Bitcoin is currently trading at [FIAT: $19,072.54] UP +1.6% in the last 24 hours according to Coingecko at the time of this report.