Post
Topic
Board Nigeria (Naija)
Re: Another Win For Bitcoin
by
Richbased
on 19/11/2024, 19:26:16 UTC


 To be honest, $26 billion worth of Bitcoin of Bitcoin is not something to joke about, that's a fortune and if a company such as Microstrategy would keep adding too their reserve instead of selling it means they've pictured the future and saw that you can't write it without including Bitcoin, it's the future and there's better times ahead. Also, never forget that a win for Bitcoin is  win for every Bitcoin holders, Cheers.

MicroStrategy has really built great wealth in bitcoin but i still have the feelings that they have a target and when that target is met, they will consider selling some of their bitcoins. Perhaps, as they are making news while buying a lot of bitcoins, when they sell, it will also affect the price of bitcoin.




On the other hand, it's kind of scary to me what will become of bitcoin (aside from the increase in value) when more institutions try to bag bitcoin as much as they can and the government joins the train too using bitcoin as a reserve. The kind of unstable price and how easily those entities can manipulate price and cause panic to the market is what I'm afraid of.

Am also afraid as you are because so many bitcoins will now be left in the hands of these institutional investors thereby leaving individuals with few or low bitcoins in their custody which means that we can just wake up to an unfavorable news especially when they start to consistently manipulate the market.