Two months since Tesla BTC purchase. Corporate buying less than expected? - page 2.

avikz

legendary

Activity: 3080

Merit: 1500

Quote from: MyCryptoDomains on April 08, 2021, 04:32:36 AM

We remember that day when the news came out. BTC shot up from $38K to 44K and to 48K the day after. People expected an avalanche of big companies to buy BTC. So far it hasn't happened yet it seems. We have seen news about some companies around the world buying crypto but they were not "big" big players like Tesla. Do you think corporate buying so far was not as big as we expected when Tesla made the news?

The less number of corporates enter into this game, the better for commoners like us! It is already extremely difficult for a common person to enter into crypto market without buying from an exchange. If more and more corporates enter into this game, whatever chance we common people have now, will be lost. Then corporates will have the power to manipulate the market at their own will.

So if the corporate adoption is happening at a lower pace, it's a good news and should remain as it is!

NeuroticFish

legendary

Activity: 3668

Merit: 6382

Looking for campaign manager? Contact icopress!

Quote from: MyCryptoDomains on April 08, 2021, 05:14:03 AM

My thread is about big names expected to come into the BTC world as investors.

The big names do buy. At least some of them. The chart in both the threads I've already posted suggests that.
What you seem to expect is (like the other topic!) news/headlines about new buys. And I have a feeling that some of those investors prefer to stay rather silent instead of triggering price increase, which won't favor them yet...

MyCryptoDomains

jr. member

Activity: 63

Merit: 1

Quote from: NeuroticFish on April 08, 2021, 04:42:12 AM

Quote from: MyCryptoDomains on April 08, 2021, 04:32:36 AM

We remember that day when the news came out. BTC shot up from $38K to 44K and to 48K the day after. People expected an avalanche of big companies to buy BTC. So far it hasn't happened yet it seems. We have seen news about some companies around the world buying crypto but they were not "big" big players like Tesla. Do you think corporate buying so far was not as big as we expected when Tesla made the news?

Why you guys keep discussing that same thing over and over again instead of looking 2-3 posts around (or even using search)?!

This topic is about the same thing: https://bitcointalksearch.org/topic/next-big-news-5329214
This topic may also help: https://bitcointalksearch.org/topic/someone-just-bought-12000-bitcoin-on-coinbase-wonder-why-5329096

My thread is about big names expected to come into the BTC world as investors.

BTW the majority of talk in this forum section is about the same thing (future of BTC/ BTC price) if you haven't noticed.

DdmrDdmr

legendary

Activity: 2338

Merit: 10802

There are lies, damned lies and statistics. MTwain

Yesterday I came across some data that Coinbase reported regarding their quasi-closure of Q1. The data is an estimate, but per their own words, is based on their information as of the date they published the information (06/04/2021), so it should/could be rather accurate. Amongst the information they released they stated that:

Quote

•Assets on Platform of $223 billion, representing 11.3% crypto asset market share
◦Includes $122 billion of Assets on Platform from Institutions

See: https://www.sec.gov/Archives/edgar/data/0001679788/000162828021006601/exhibit991-8xk.htm

Now the above would imply that more than half of the assets on the platform are related to Institutions. That could give the reading that, on the one hand, many individuals and institutions manage and keep their crypto assets on the platform (the data prompts state "on Platform" instead of "managed through the platform" - but it may be misleading terminology). On the other hand, perhaps the term Institution is rather laxed here, and whilst we have in mind the big corporations that give such juicy headlines, smaller retail stores are possibly counted here amongst the institution's sum.

It’s not just the biggys that make market, but they do push it and make way more noise.

Charles-Tim

legendary

Activity: 1512

Merit: 4795

Leading Crypto Sports Betting & Casino Platform

After Tesla bought $1.5 billion worth of bitcoin, the price of bitcoin increased to over $50000 after some days, Microstrategy bought $1 worth of bitcoin at the time with the price slightly above $50000. Although, Microstrategy has been buying bitcoin before, but saying big companies are not buying bitcoin after Tesla bought bitcoin is very wrong.

Grayscale also open investment for investors. That is another big company in the crypto community, Grayscale bitcoin holding has increase to over $38 billion recently.

There are many other institutions that have been investing in bitcoin, it is just a matter of time, more big companies will join and invest once the creteria before investing in bitcoin is fulfilled, this can be more increase in marketcap. Bitcoin is the digital gold, it will not be surprising to see bitcoin marketcap getting to 5 trillion in a decade to come, or before. What is most important is that bitcoin is deflationary, and this makes people becoming to prefer it than other assets also because it has limited supply of 21 million which makes it appreciative in design.

NeuroticFish

legendary

Activity: 3668

Merit: 6382

Looking for campaign manager? Contact icopress!

Quote from: MyCryptoDomains on April 08, 2021, 04:32:36 AM

We remember that day when the news came out. BTC shot up from $38K to 44K and to 48K the day after. People expected an avalanche of big companies to buy BTC. So far it hasn't happened yet it seems. We have seen news about some companies around the world buying crypto but they were not "big" big players like Tesla. Do you think corporate buying so far was not as big as we expected when Tesla made the news?

Why you guys keep discussing that same thing over and over again instead of looking 2-3 posts around (or even using search)?!

This topic is about the same thing: https://bitcointalksearch.org/topic/next-big-news-5329214
This topic may also help: https://bitcointalksearch.org/topic/someone-just-bought-12000-bitcoin-on-coinbase-wonder-why-5329096

MyCryptoDomains

jr. member

Activity: 63

Merit: 1

We remember that day when the news came out. BTC shot up from $38K to 44K and to 48K the day after. People expected an avalanche of big companies to buy BTC. So far it hasn't happened yet it seems. We have seen news about some companies around the world buying crypto but they were not "big" big players like Tesla. Do you think corporate buying so far was not as big as we expected when Tesla made the news?

Topic: Two months since Tesla BTC purchase. Corporate buying less than expected? - page 2. (Read 292 times)