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After more than a decade of nerve-wracking price volatility, bitcoin is finally maturing as an asset, according to a top Goldman Sachs analyst.

In an interview with CNBC, Jeff Currie said the leading crypto’s wild run up to nearly $43,000 has forced an even greater number of institutional players to pay attention, but he stressed that so-called smart-money investors still represent a very thin slice of the market pie.

Referring to the recent flash crash that saw it drop over 20%, he said a big influx of cash from such players will be needed to stabilize the highly erratic digital asset.

“I think the market is beginning to become more mature,” Currie said, adding that “volatility and those risks that are associated with it” are the norm in the crypto space.

“The key to creating some type of stability in the market is to see an increase in the participation of institutional investors and right now they’re small […] roughly 1% of it is institutional money,” he said.

When new institutional players enter the market, they will find themselves in good company. Legendary investors Paul Tudor Jones and Stanley Druckenmiller have publicly stated that they have invested in bitcoin. Jones has said that bitcoin will outperform other assets as a hedge against currency debasement, calling it “the fastest here in the race.”

Institutions displaying a voracious appetite for bitcoin include MicroStrategy, Grayscale, PayPal, Square and, most recently, Anthony Scaramucci’s hedge fund, SkyBridge Capital.

The price of bitcoin at the time of publication was $32,806, according to CoinMarketCap.

Read: Why MicroStrategy swapped fiat for bitcoin