Re: Fidelity just made it easier for hedge funds and other pros to invest in crypto
The recent decline in the bitcoin price is just few hundred dollars.If the "crypto whales manipulation" theory is right,the whales will try to push the price to a "price crash/panic" level at 4000 USD or maybe under 3K USD. This has nothing to do with Fidelity and their crypto related projects.
According to studies I've seen, many hedge fund managers are lucky to achieve 5% return on investment.
This could be a misleading statistic. The difficulty level of trading in the green rises significantly when working with higher sums of capital. The higher volume making it more difficult to get in and out of trades. One of the trade offs is hedge fund managers having relatively large piles of cash at their disposal. A hedge fund with $20 million in capital could make $1 million off a 5% increase in price.
Hedge funds don't necessarily need big percentage shifts to make money the way that smaller traders do.
By the way,storing bitcoins in nuclear bomb shelters is a stupid idea.Perhaps Xapo abandoned that project.
Is it a dumb idea?
Nuclear bomb shelters are fortified behind multiple feet thick layers of concrete and heavy steel doors. They're built to be secure against attacks in a way that can be effective when defending against things like attempts at theft. The idea is to save on those costs as former missile silos and other reinforcced structures are currently on real estate markets and available at wholesale prices.