Quote from: gunhell16 on Today at 10:40:15 AM

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.

I just found out that this Tesla now accepts Bitcoin. Did I understand correctly? Well, honestly speaking, in some other way, what institutional investors are doing after the SEC US did what they did with the bitcoin spot Etf is also a bit worrying.

Think about what institutional investors are doing today: just collecting Bitcoin. While they hold Bitcoin, the number of bitcoins in circulation in the market is now decreasing. Then we have no idea when they will sell their bitcoin holdings. It's like, from another angle, I'm concerned.

That is the price we have to pay when we always want bitcoin to be legalized by the government, want bitcoin to become popular globally, and when those things happen, large organizations or governments will also invest in bitcoin and manipulation is inevitable.

Every time people see bitcoin going up in price and people get excited and excited about the bitcoin ETF being approved and being the catalyst, but they forgot to think about the prospect that one day these large funds will sell bitcoin to the market. Then it will cause a big drop and panic, and this is the downside when we want bitcoin to become bigger.