Long
Bitcoin Buy the dip 10,400 and 9,100?
Updated
Forgot I had a buy order at $10,400. Set the next one at 9,100. Entering in relatively small positions while respecting my rule of not letting crypto exceeding 10% of my investment portfolio and Bitcoin exceeding 5%.
What's fascinating with this selloff with crypto was that it foresaw what happened in the US markets on the following day. I don't really know what to make of it but find it interesting. It has held up better than equities with this selloff. Stronger hands with bitcoin?
Wall street finally accepting Bitcoin as an asset and allocating some in their portolfios could be a major catalyst for the BTC bull market. Supply is limited and shockingly not many investors can understand that in this world full of infinite money supply and abundance.
What gives value? Adoption, utility or scarcity? Or a bit of everything?
Even a mere 0.1% allocation in a 10BN fund is 10M USD of BTC. When it's that small of a portfolio, they may simply use it as a hedge and not even worry about short term price volatility which effectively puts a floor on the price.
Heading into volatility and headwinds we've never seen before, even a small allocation in an uncorrected asset might be on many investor's minds. Also starting to see value investing groups pivot to learning about blockchain and crypto.
Current bitcoin volumes dwarf in comparison to the ones from previous bull market. Still got a long way to go imo
#cashlesssociety
What's fascinating with this selloff with crypto was that it foresaw what happened in the US markets on the following day. I don't really know what to make of it but find it interesting. It has held up better than equities with this selloff. Stronger hands with bitcoin?
Wall street finally accepting Bitcoin as an asset and allocating some in their portolfios could be a major catalyst for the BTC bull market. Supply is limited and shockingly not many investors can understand that in this world full of infinite money supply and abundance.
What gives value? Adoption, utility or scarcity? Or a bit of everything?
Even a mere 0.1% allocation in a 10BN fund is 10M USD of BTC. When it's that small of a portfolio, they may simply use it as a hedge and not even worry about short term price volatility which effectively puts a floor on the price.
Heading into volatility and headwinds we've never seen before, even a small allocation in an uncorrected asset might be on many investor's minds. Also starting to see value investing groups pivot to learning about blockchain and crypto.
Current bitcoin volumes dwarf in comparison to the ones from previous bull market. Still got a long way to go imo
#cashlesssociety
Note
SQ bought 50M BTCMore companies to follow.
Game set match.
HODL hard
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