Re: How institutional investors crushed the dream of making it big in crypto
People said this when Bitcoin was $10k. They swore it would no longer go double the price. Then it got to $69k, and since it didn't cross that for a while, the talk came again. People said it would never go higher than that, but here we are. Bitcoin has gone up to $123k.
Let's not forget that Bitcoin started last year with less than $44k. Some time in 2023, it was in the $30k range, and here it is today, less than two years later, above $100k.
Institutions do not control Bitcoin; they're only a part of it. I might go out on a limb and say they are a footnote in the story of Bitcoin, like the rest of us. It's in human nature to always want to make a profit, and that is why those same institutions will want to buy bitcoin even though it's volatile, thereby increasing the demand for bitcoin and then the price.
Let's not forget that Bitcoin started last year with less than $44k. Some time in 2023, it was in the $30k range, and here it is today, less than two years later, above $100k.
Institutions do not control Bitcoin; they're only a part of it. I might go out on a limb and say they are a footnote in the story of Bitcoin, like the rest of us. It's in human nature to always want to make a profit, and that is why those same institutions will want to buy bitcoin even though it's volatile, thereby increasing the demand for bitcoin and then the price.
Institutions don't control Bitcoin for now. But if they keep buying large sums of the circulating supply, it's possible they'll control the market in the future. The core blockchain, however, will remain decentralized. Assuming miners and nodes are outside of their control. Given that Bitcoin goes up in price within a short amount of time, institutional investors are starting to abandon Gold in favor of BTC. Of course, this doesn't mean it's "game over" for Gold. But rather, demand will diminish as investors flock to the "next big thing".
My guess is that institutional investors will hold both BTC and Gold for complete peace of mind. We should also follow their footsteps. Imagine how far Bitcoin will go if capital keeps flowing in. $1m per BTC would just be the "tip of the iceberg". See you in Mars.
