Grayscale, PayPal, and more of them are buying multiple times the daily issuance of Bitcoin, thus creating a Major Bitcoin supply shock. The logic is they are buying it to sell higher.
The logic is that as long as the price of Bitcoin keeps climbing, they have no reason to sell any holdings. But it also takes time to upload that amount to the effect that it will be muted over a period of time.
While the Bitcoin Halves every four years, they are creating a quintessential supply and demand economics.
It now just looks like these big market players can market dump BTC to 10$. This could be a way people lose confidence in BTC and replace it with their new world order printable coin. Nobody thought of this attack vector.
In this regard, Sina Estavi, CEO of Bridge Oracle: “Grayscale and PayPal are creating a new world capitalism in the decentralized cryptocurrency space by buying more of Bitcoin (BTC). Capitalists Dominating!”
With institutional interest growing in Bitcoin (BTC) there is no way these people can be prevented. These are smart investors who looks not just to tomorrow, next week or even next year, by cost averaging into dips, they know it pays handsomely in the long term.
While all these are happening, there are several Bitcoin holders will to sell it to Grayscale and PayPal if they are willing to buy what they hold!
Someone who did a quick math pointed to stating, 2 months about 100k coins 20 months 1 million coins 48 months 2.5 million coins also during the next cycle with Grayscale the projects will own more than 10% of all of the Bitcoin that has ever been created.
While all this excitement is happening in the market, some of them were reinstating on the fact thatmost people don’t get or just haven’t realized yet there is ONLY about 2.5 million bitcoin left. Total. Thus, lighting up the fire of FOMO.
Institutional Investors investing in Bitcoin is something that was expected to happen either sooner or later. Bitcoin is evolving to be a reliable system in the world of business transactions.
While the situation is getting interesting than ever, there are some people who do not realize the drama continuing to say, Bitcoin price action is being boring as watching paint dry. Meanwhile the Gold Bet continues. The betting is not going to end for people need money to deal with volatility.
Steven is an explorer by heart – both in the physical and the digital realm. A traveler, Steven continues to visit new places throughout the year in the physical world, while in the digital realm has been instrumental in a number of Kickstarter projects. Technology attracts Steven and through his business acumen has gained financial profits as well as fame in his business niche. Send a tip to: 0x200294f120Cd883DE8f565a5D0C9a1EE4FB1b4E9
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