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Joined: 10/10/1999
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Exactly

Lets just look at Fidelity. They manage $4.5 Trillion. They are encouraging 1% to 3% allocation in there funds. Which is ironic because anyone that has allocated just 2% of there net worth (by dollar averaging in every month) at any time since the inception of bitcoin has outdone anyone that was just in the S&P by a huge amount. Bank America said the price multiple was 118:1 per coin. Basically, $1 million in fresh buying the market cap would increase by $118 million. Using that info 1% of $4.5 trillion is $45 billion. That means the market cap would increase by $5.31 trillion with these numbers. There will only be 21 million bitcoins. Divide $5.31 Trillion by 21 million and you get a price increase of $252K. That is very conservative numbers. We are not even talking about the other places like blackrock or any other financial institution. The increase in bitcoin right now is all about the ETF's and money managers allocating money towards bitcoin. I look at this as being one of the biggest wealth divides ever because the rich will get richer and the poor and blind will be left behind. The same people that have been doubting cryptos are the same ones that doubted the internet. Now, it will be a volatile ride. The people who got in early can sit back and watch. We know how volatile cryptos are. We have the tolerance to see huge gains disappear in minutes. But for the new people, the more volatility, the more the big guns can shake out the small hands. Look at all the people that got liquidated when they jumped in at $63K, saw it rise to $64k only to see it drop to $58700 in a matter of minutes.
Posted: 02/28/2024 at 09:37 PM ET
(In response to this post by MrBayAreaHokie)

Thread Replies (9)

Full Thread →
BTC hit $60K+
MrBayAreaHokie 02/28/24 10:19 AM ET
Hope so. If it hits $100k then I'll sell and pay off my car.**
HokieNoVA 02/28/24 10:56 AM ET
Because of internet people like you pumping
ModerateHokie 02/28/24 10:35 AM ET
It's not really organic anymore
GoobyPls 02/28/24 11:55 AM ET
it's the inflows into the ETFs
MrBayAreaHokie 02/28/24 12:44 PM ET
Exactly
HokieZig 02/28/24 09:37 PM ET
you forgot to say "bro"**
ModerateHokie 02/28/24 02:59 PM ET
And the rich get richer. **
HokieSignGuy 02/28/24 02:05 PM ET
you're a good measure for me
MrBayAreaHokie 02/28/24 11:23 AM ET
^^ Member of the Luke Belmar Capital Club ^^**
ModerateHokie 02/28/24 12:11 PM ET