Quote from: Cryptomultiplier on Today at 01:05:16 PM

Quote from: worldtraveller321 on March 29, 2024, 09:44:52 PM

So right now it seems the corporations want all of BTC. With Blackrock buying lots and lots of BTC. I consider this a catch 22 and a mix of good and bad.
What are your thoughts on this?

Sure for anyone who hodls BTC and Blackrock buying more, value goes up. so it works for people already holding BTC.
Yet it makes it harder for others not in the market yet to buy more amounts , they will have to consider buying less now if on a budget.

Is this a case of too much too soon? or do you think Blackrock a good thing? thoughts?

Microstrategy CEO, Michael Saylor was known to have bought some large volume of BTC some weeks back also and that was as at the time BTC was $72k price.
Am certainly not surprised about BlackRock doing same because as the halving is fast approaching this is how whales will get to acquire and control the market in months to come.
The purchase by BlackRock will sure increase the value of BTC making its price rise despite it taking a dip recently and we might see other large investors like big companies and corporations acquire the spot exchange traded funds more in coming days too.

BlackRock acquisition is a good thing because it shows BTC still has worth and it doesn't stop those with the plan to DCA from starting our continuing because it is a strategy of investment that favours the small time hodlers or investors who don't have such huge sums like Michael Saylor or BlackRock do.

Is it really as good as you say? Blackrock or Microstrategy or Tesla are all bitcoin investors, which means they don't buy bitcoins just to hold them forever and not sell them. Have you ever thought about them selling all the bitcoins they accumulated to the market and what would happen then? It would certainly be terrible. In the past few days, when the amount of Bitcoin that Grayscale sold was greater than the amount of Bitcoin that ETFs bought, the price of bitcoin also decreased. And even a small amount of bitcoin can cause a decline, so if Blackrock sells a large amount, it will cause a huge panic in the market.