While we will be getting bigger investments in the future I doubt this will be a reason, after all, if that turns out to be true what do you think wall street investors are going to think of the market of cryptocurrencies that recently went down about 60% in value? Only those willing to take the risk will consider bitcoin and other alts in the top, most wall street investors will decide, at least for now, to pass on the opportunity thinking the risks are too great.
Given the amoung of dollars invested in "normal" markets, even if just a small percentage flows into crypto, it would have a large impact.
I agree that for wide spread adoption and move from stock to crypto, the vol in crypto is too high at the moment. But we are still in a nascent market and the volatility will go down over time, the more cryptos are integrated in the real economy.
For speculators, BT can however provide some real alternatives to diversify their portfolio.
(If you like my post, just click +Merit on the right. I will be appreciated)I've heard people say this thing over and over again for literally years already. So far this didn't happen, or at least it doesn't look like it did. Big speculators and investors like George Soros and Warren Buffett have already expressed their disdain toward cryptocurrencies. So why would other big guns want to invest in Bitcoin? If they enter Bitcoin now, the price will surge and a lot of today's bag holders will be happy to dump their coins onto them.
How can this argument have been made since years already, when only over the last few months traditional news outlets started to mention and report on bitcoin? The awareness of bitcoin has only recently reached a wider audience. Soros and Buffet were nowhere to be seen in 2015 and I doubt they were seen much in 2016 either, as far as bitcoin is concerned.
To tell the truth, I'm even surprised that you didn't check what you posted before posting it. Well, for a rare case when my memory doesn't serve me right, I checked my words myself. Buffett (his name is Buffett, not Buffet) talked about Bitcoin as back as in 2014, when he said to stay away from Bitcoin because "it is a mirage" and "the idea that it has some huge intrinsic value is just a joke". Or do you really think that Buffett didn't hear about Bitcoin years ago and someone didn't ask him about it?
Well done. You spotted a typo.
I'm sure that Buffett, Soros (who's first name is btw Gyoergy .. George is the Americanized version ... just saying), and many others would have used the word Bitoin in one form or another also before 2014. An ad-hoc, off the cuff comment, in a broader context if very different from focused, targeted and repeated discussion of the topic.
However the situation might be for these individuals, your comment that the original statement has been made for years is still not true. The original statement includes mass awareness of Bitcoin as a key rational. Mass awareness of Bitcoin simply was not there until recently.
Anyhow, we need to agree to disagree on this one. I guess we will have to see and wait.
I think before disagreeing we should get things straight on this issue first. I'm not talking about "mass awareness of Bitcoin" which you seem to have failed to notice. I'm talking about big guns, big fish, whatever. I hope you get the point. WTF, even you are talking about folks switching from stock to crypto, just like the guy before you speaks about the Wall Street investors. And these dudes are definitely not your regular people which you seem to implicitly refer to here by "mass awareness". In short, they had been well aware about Bitcoin long before "until recently".
Oh, and don't forget about your "Soros and Buffet were nowhere to be seen in 2015 and I doubt they were seen much in 2016 either, as far as bitcoin is concerned" if that gives you peace of mind somehow. Just accept being wrong here and get done with that.
