Ninjastic
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Re: What are some major institutions investing heavily in bitcoins in 2024 ?
by
Iranus
on 05/04/2024, 03:27:44 UTC
Quote from: Moreno233 on April 04, 2024, 08:03:16 PM
Quote from: taufik123 on April 04, 2024, 06:46:37 PM
Quote from: Dr.Bitcoin_Strange on April 04, 2024, 05:42:38 PM
Based on your question, I know that MicroStrategy, Galaxy Digital Holdings, Marathon Digital Holdings, Tesla, and Coinbase Global are some of the of the top investors in Bitcoin, and they hold a great deal of it. Also, based on my research, blackrock holds about 256,681 BTC as of this month, while microstrategy owns about 214,246 bitcoins as of last month, less than what blackrock's holding.Upon the factors that influence the price of Bitcoin, we all know that whales are one factor that contributes to the price volatility of Bitcoin. So, in the future, it will definitely contribute to the impact of the BTC price. 
The amount of investment is increasing, and its value is increasing enough, it is higher.
This makes some institutions that invest in Bitcoin have quite a lot of profits.

Let's see, how Tesla was initially quite serious about Bitcoin, Until now Tesla continues to collect Bitcoin.

Total Bitcoins held: 9,720 BTC and Current investment value (April 5, 2024): $324 million.
Tesla has also sold some of their Bitcoin holdings in 2022 by about 75% with the value of Bitcoin at the time $926 Million.
But now they're starting to re-enter and buy gradually, and Elon Musk says it's going to be held for the long term.
Tesla was not too fair to Bitcoin in the last market cycle and I can say that overall they hurt Bitcoin more than helped because what they did was pure price manipulation. They raised the hope of people, who were eager to see Bitcoin accepted in the mainstream, when they announced that Tesla will be accepting Bitcoin for the purchase of their electric cars, little did we know that they will change their mind so fast. Maybe they thought about the regulatory aspect of it as well as the taxation and decided not to put their business at any form of risk.

Therefore, I am not too comfortable with institution such as Tesla getting involved in Bitcoin because of their antecedents. It will be really hard to believe the words of Elon Musk regarding investment in Bitcoin.

They are business corporations and investors, what do you expect from them? Not only Tesla, but also Blockrock or MicroStrategy...any institution is investing in bitcoin to make profits. If they haven't sold their bitcoins yet, you consider them angels but when they take profits and dump their bitcoins you will soon call them bastards like Tesla. Whatever you consider bitcoin to be, they don't care and for them it is a financial market, a place for them to make profits and earn the profits they need to buy and sell.

Also, you feel uncomfortable with them investing in bitcoin but is there anything you can do to stop them? No, there's nothing you can do. So ignore what they do, adapt to everything and focus on your investment. That's something you and we can do.