Also, with Bitcoin becoming 'established' I bet everyone who owns more than $1M in cash is considering Bitcoin as a method of alternate banking and transferring funds internationally.
Bitcoin certainly isn't the safest place to store your money, but there is a decent argument to be made that it can be safer to keep 90% cash and 10% btc instead of just 100% cash for some risk profiles. Criminality is one obvious use case, but people who want a plan for how they could flee their country in the case of disaster, financial meltdown, or social unrest would also see advantages: much easier to get a $100k private key through an airport and customs than the equivalent in physical cash.
Bitcoin is by no means established because these institutions aren't investing. If and when the day comes that this happens then Bitcoin will be established and increase one or two magnitudes. Many of the above institutions legally can't invest because they are restricted by their mandates. Bitcoin is a terrible use case for criminals because it's transparent. Monero would be better because it's anonymous.
However, I think that market speculators, particularly hedge funds, would strongly consider opening positions in Bitcoin below $5k in hopes of a many-fold return on investment. It is high risk, but in a diversified portfolio Bitcoin may be attractive in our current market climate where the market is so overbought.
Edit: Grammer