Quote from: exstasie on October 05, 2019, 06:46:38 AM

Quote from: bbc.reporter on October 05, 2019, 04:03:08 AM

Quote

Lee said he believes the cryptocurrency space is "too small for the institutional world." Lee goes on to compare bitcoin's relatively small market size to that of gold, stocks, and bonds. "Gold is 9 trillion. The stock market is 66 trillion the bond market is 86 trillion, bitcoin is not even half a percent of the total assets," Lee says, adding that "if youre asking someone to allocate 1% to bitcoin thats like triple the market weighting, like youre youre asking someone to make a massive bet even though its 1% of their assets because bitcoin is that small."

"Its probably correct I think about 1% of the U.S. owns bitcoin and at that size its too small for an institution, its a hobby," Lee concludes.

Another barrier preventing institutional investors from entering the cryptocurrency space is a lack of infrastructure, Lee says. However, Lee believes this is due to the lack of regulatory protection. "Theres not enough legal and regulatory protection for bitcoin in the U.S. to prevent a White House executive order banning bitcoin, like nothing today would prevent bitcoin from being outlawed in the U.S."

Due to regulatory uncertainty, Lee believes institutional investors will feel they are taking on "reputational risk" for "extending it to a market that has no regulatory protection..."

Never thought I'd see Tom Lee so bearish on the fundamentals! Shocked

I always said if Tom Lee ever becomes a bear, that's the time to go all in. Well ladies and gentlemen, we've got our signal. We're probably on the verge of a major bull run now.

It is not only about the fundamentals. I speculate he knew something would occur, however, it did not push through on the last minute.

Also, if bitcoin pumps to $25k, !kcab si eeL moT hehehe.