So Cramer just admitted on cnbc that Bitcoin supply was a problem. Because it forces market makers to push the market as high as possible to "shake out more coins". But that's not happening. People aren't taking profits like they expected. He's worried that they'll have to push the Bitcoin market cap to $1T first before they start to see more supply hit the exchanges.
This is fkn hilarious. They can't just call up someone and whip up more stock shares (like they do when other equities launch!). He basically just revealed what everyone has been suspecting for a long time now, that the U.S. stock market is a complete fraud that only enriches the wealthy elites.
I think a fundamental problem with the analyses of these wall street types is that they can't comprehend the power of the HODL.
Many of the early adopters, who are still HODLing, got involved in bitcoin to begin with for philosophical, moral, or political reasons. These HODLers are fundamentally different from 99.9% of people/organizations who are long on a stock.
The typical equities investor will take profits at fairly predictable intervals, and cut their losses at fairly predictable levels. Bitcoin HODLers realize they're invested in a world changing technology that has an incomprehensible upside in price still.
A trillion is only a tripling away. You aren’t getting my coins for a tripling. I’m looking 20 years out. The problem is we believe and they don’t. Wall Street are the weak hands in this game.
That's another way to put it.