Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
The common mistakes which the ill informed make:
1. Bitcoin price is so high, who will buy and drive the price up from now on? Therefore, it is better to find another project which has a lot of potential.
-Answer: Both statements are awfully wrong. First of all, the market cap is the real measure, not the price of 1 Bitcoin. And the market cap will compete soon with gold's for sure. As for the second statement - there is no 2nd best. Everything else is made by some individual or a group of individuals, who seek only their own profit. Decentralization is nothing but an outright lie.
2. The institutions can run out of money and stop buying Bitcoin ETF's anytime soon.
-Answer: According to Bitwise CIO Matt Hougan recent interview in CNBC (https://youtu.be/VmmrLxfdHxk?t=75) the profile of Bitcoin ETF buyers is almost 100% retail. After the interview, he is going to meet of the the largest institutional consultants about Bitcoin ETF's... This is a $100B+ category market. So, it turns out institutions haven't even started yet! Among the first is the Arizona State Senate which is adding #Bitcoin ETFs to its state retirement portfolios.
And of course BlackRock has filed with the SEC that it will buy #Bitcoin ETFs for their own funds. They have $10 Trillion in assets under management. Another $20 Trillion of funds use their Aladdin platform to make portfolio allocations. BlackRock has stated that the optimal Bitcoin allocation is 84.9% of a portfolio. Of course, few will do this, but we now have the world's biggest fund manager telling investors to get off zero. Ernst & Young estimates $200 Trillion of Institutional assets could not touch Bitcoin until an ETF was approved. https://twitter.com/BTC_Archive/status/1766038008589869360
1. Bitcoin price is so high, who will buy and drive the price up from now on? Therefore, it is better to find another project which has a lot of potential.
-Answer: Both statements are awfully wrong. First of all, the market cap is the real measure, not the price of 1 Bitcoin. And the market cap will compete soon with gold's for sure. As for the second statement - there is no 2nd best. Everything else is made by some individual or a group of individuals, who seek only their own profit. Decentralization is nothing but an outright lie.
2. The institutions can run out of money and stop buying Bitcoin ETF's anytime soon.
-Answer: According to Bitwise CIO Matt Hougan recent interview in CNBC (https://youtu.be/VmmrLxfdHxk?t=75) the profile of Bitcoin ETF buyers is almost 100% retail. After the interview, he is going to meet of the the largest institutional consultants about Bitcoin ETF's... This is a $100B+ category market. So, it turns out institutions haven't even started yet! Among the first is the Arizona State Senate which is adding #Bitcoin ETFs to its state retirement portfolios.
And of course BlackRock has filed with the SEC that it will buy #Bitcoin ETFs for their own funds. They have $10 Trillion in assets under management. Another $20 Trillion of funds use their Aladdin platform to make portfolio allocations. BlackRock has stated that the optimal Bitcoin allocation is 84.9% of a portfolio. Of course, few will do this, but we now have the world's biggest fund manager telling investors to get off zero. Ernst & Young estimates $200 Trillion of Institutional assets could not touch Bitcoin until an ETF was approved. https://twitter.com/BTC_Archive/status/1766038008589869360