RE: The crypto flywheel effect.
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I was talking to a friend today who does wealth management at JP Morgan for very high net worth people. A month ago he was telling me he's never seen so much money sitting on the sidelines waiting to find a home. Today I asked him if any of his clients have asked him about investing in bitcoin and he said no one has mentioned it to him in years. He then told me about the amazing gains in the NASDAQ this year and was surprised when I told him that btc has crushed those returns this year.
I don't think he's going to run out there and start recommending it, but its telling that none of these people he works with who have tens of millions of dollars have paid any attention to bitcoin or crypto in years, and they are sitting on more money than ever. The fireworks could be insane.
We've never had institutional investment in crypto at scale so far.
The last bull run was crazy and that was just joe off the street. If we do see some of this money move into crypto then all ell could break loose.
The higher that the price goes the less liquidity there is for bitcoin and it wouldn't take much to see 100k as people get greedy.
Brilliant for us as it will drive all of the alt markets right behind it.
exactly. We're already seeing how the price is getting pushed around without a lot of money coming in relative to other markets.
On another note, I had a loan against my BTC from coinbase that was supposed to be paid off late 2024 but they ended the program yesterday. So everyone with an active loan either had to pay the balance or sell some of their btc collateral yesterday. I fully expected there to be a pretty big dip in price the day they likely liquidated thousands of people but price shot up yesterday instead. It's a testament to the strength and fundamentals of this rally. It's not just short squeezes and whale games.
I can't wait for it to filter into the alts