Sorry if wasn’t clear. The $400 billion mentioned was not meant to be representative of the institutional money which is coming. (I can’t calculate how much institutional money will come, but I would guess that it will be more than $400 billion.).

When I referred to the $400 billion, it was meant to represent investment management money which would come if just 2% of the four largest investment manager’s funds under management were to be invested into bitcoin.

In addition to the $400 bn would be money from other investment firms and other institutional money. The total wave of money coming into bitcoi willthus be very large, and most probably considerably greater than $400 billion.

Concise synopsis: $400 bn would imply a BTC price of $600k,