Post
Topic
Board Bitcoin Discussion
Merits 2 from 1 user
Re: Elon Musk adds #Bitcoin to his Twitter bio
by
arbiter5
on 29/01/2021, 10:01:32 UTC
⭐ Merited by The Pharmacist (2)
Do you know how long it takes someone to sign up on an exchange, go through their KYC process to verify their account, make money transfer from their bank account to that bitcoin exchange, wait a long time until it reaches the exchange and is credited in their account and then eventually after jumping through all the hoops they can buy bitcoin?
You're assuming that literally every buyer we had in the past hour are totally new in the cryptocurrency space. It could simply just be people already with exchange accounts that just bought in because of confirmation bias.

And let's not forget that PayPal, Robinhood, eToro, Trading212, Cash App, and tons of trading/investing platforms already has bitcoin by default.