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Topic: INSTITUTIONAL MONEY changes everything !!! How BitCoin gets to 100,000 Next - page 2. (Read 320 times)

member
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Bitcoin at $100k sounds unrealistic. There is an opposite opinion also. Roubini, Scaramucci and other economists warn that Bitcoin bubble is going to burst.
legendary
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Merit: 1165
www.Crypto.Games: Multiple coins, multiple games
I believe as long as wall street keeps pouring money in, the price has to go up, because there is limited amount of bitcoins available in the market so they have to increase the price. Think about it this way, grayscale owns 2.5% of ALL bitcoins that will ever exist, and we allowed them to do that only with 10-15 thousand dollars, hell even at 40 thousand dollars that is not cool because from now on just one place owns 2.5% of all bitcoins there will ever be, and bigger portion of what we have right now.

So I would say if wall street gets in, we need to make it a lot more expensive so that they do not buy even more, at the end a bunch of companies will own 10% of all bitcoins and that would be bad for traders and it would be bad for using bitcoin as currency too, we need to make it work for buying and selling things as well. So I hope they do get in, but I also hope price goes up a lot faster.
legendary
Activity: 3556
Merit: 9709
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This cycle is going to be a super cycle, I think $100,000 is conservative for the top to be honest. It’s going to be like an absolute avalanche of money flowing into bitcoin once true FOMO starts.
copper member
Activity: 2562
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Spear the bees
Lots of funny comments there. "Bitcoin they can control. Hell, they can even pull the plug. Blah blah Blockchain" Roll Eyes
It's basically an ETF with no expense ratio, despite having a professional custodian. GBTC charges 2%. Even when a Bitcoin ETF does get approved, it'll probably be in the 0.5%-1% range (wild guess). GLD, the largest physically-backed gold ETF, charges 0.4%.

I can see the appeal.
Might incentivize others to do similar things. This amount of interest in an unsaturated market is practically begging to be captured, even if corporate bodies are concerned primarily with the bottom line.
legendary
Activity: 1806
Merit: 1521
I am wondering why they didnt just buy BTC directly themselves instead of investing in Microstrategy. I am assuming is because they "can't yet buy bitcoin directly" perhaps. Microsttraegys price right now quickly mimics BTC pretty much since a large part of their holdings are BTC itself. Its pretty much like a Bitcoin ETF pretty much that is not OTC like GBTC.

It's basically an ETF with no expense ratio, despite having a professional custodian. GBTC charges 2%. Even when a Bitcoin ETF does get approved, it'll probably be in the 0.5%-1% range (wild guess). GLD, the largest physically-backed gold ETF, charges 0.4%.

I can see the appeal.
legendary
Activity: 3808
Merit: 1723
As I posted last month, Institutional Money would change everything for BitCoin, and make the price go up to the levels you guys have been talking about for many years...  Here is how BitCoin goes from what seems a high price of 40,000 now to 100,000 very quickly   Shocked Shocked Shocked

How Bitcoin Gets To $100,000 Next: Morgan Stanley Boosts Stake In Microstrategy, Opening The Floodgates

https://www.zerohedge.com/markets/how-bitcoin-gets-100000-next-morgan-stanley-boosts-stake-bitcoin-fanatic-microstrategy

I am wondering why they didnt just buy BTC directly themselves instead of investing in Microstrategy. I am assuming is because they "can't yet buy bitcoin directly" perhaps. Microsttraegys price right now quickly mimics BTC pretty much since a large part of their holdings are BTC itself. Its pretty much like a Bitcoin ETF pretty much that is not OTC like GBTC.

Either way its always bullish when Morgan Stanley or JP Morgan give these bullish predictions when a few years back they were all going to say that Bitcoin will fail. I think the only institution which didn't say anything negative about BTC were Goldman Sachs. Their old CEO just said he is neutral towards bitcoin because he doesn't quite fully understand it. The rest all labelled it a scam and moved on. When futures launched back in late 2017, many of them shorted BTC at $20K and later bragged about taking profits at $6K or $3K.
member
Activity: 434
Merit: 29
As I posted last month, Institutional Money would change everything for BitCoin, and make the price go up to the levels you guys have been talking about for many years...  Here is how BitCoin goes from what seems a high price of 40,000 now to 100,000 very quickly   Shocked Shocked Shocked

How Bitcoin Gets To $100,000 Next: Morgan Stanley Boosts Stake In Microstrategy, Opening The Floodgates

https://www.zerohedge.com/markets/how-bitcoin-gets-100000-next-morgan-stanley-boosts-stake-bitcoin-fanatic-microstrategy
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