Post
Topic
Board Bitcoin Discussion
Re: Who are buying all these bitcoin
by
kryptqnick
on 27/12/2020, 13:17:16 UTC
Back in 2017 I was so focused on the price and kind of greedy about the overhyped transaction fees that I wanted to sell, but didn't, and then I had to sell at a much lower price and wasn't happy about it. But nowadays I'm just calm about it all. I've decided not to care about the price and so far I'm doing pretty good. I'm not selling now because I don't need money, but I will sell once I do (I'd love to spend BTC directly, but it's not an option for now).

Private institutions like bank won't print money to bank Bitcoin, because that would be a fraud that when uncovered would put them into deep-deep trouble. Governments won't print money to buy Bitcoin, because it would just decrease the value of their fiat, that would be suicidal for them.
Well, people in the US are likely to receive stimulus checks again, and this money will come from printing more. If they then spend it on BTC (as some allegedly did the first time), it would be that the system supported Bitcoin, but of course indirectly. I do agree that there would be no such direct steps because it's irrational for them to betray their currency.