RE: Bitcoin Rampage Continues

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(Edited)

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"All this price action we are seeing these days has nothing to do with fundamentals and everything to do with fear and the idea that regulators are actually at the helm of this ship."

No. BlackRock is moving into BTC. They have more money than God, and are pushing up the price, at least for now. The US is introducing FedNow next month. What will BlackRock, who very much intends to benefit from CBDCs, do with BTC then?

Whatever they want. The larger stake they hold, the more control they will have. I suspect they have made large investments in miners, which is where the real control of BTC price is. If they want BTC to be seen as a safe haven from CBDCs, they'll keep that price moving up, and encourage folks to jump in, and ya'll will gleefully count your profits as number goes up.

And when BlackRock wants to end BTC and turn you all out into the mean streets of the FedNow they will also control, they will be able to do that with utter facility. Remember: you only profit when you sell. Don't wait too long to lock in gains by selling, is my (worthless) advice. In fact, I really hope I'm wrong, for your sake and that of everyone that wants to be free from legacy financial profiteers enough to have a bag.

But I don't see how I can be. Overall I remain confident that investing in goodwill is a strategy BlackRock cannot game, and where I hold my value. The first rule of investing is not to lose your capital. However, we must be resigned to the fact that everyone loses 100% of their capital the day they die, if not sooner. I have lost 100% of my capital more than once, and I know several ways I cannot prevent my capital from being utterly drained.

Goodwill, however, I will take to the grave with me. An interesting fact about goodwill is that the more you give it away, the more you get.

Best of luck in the exciting days ahead.

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Hmm, alot of insight @valued-customer

I guess one major thing grayscale have over Blackrock and any other financial institution that will apply for bitcoin ETF is that they currently own over 600000 bitcoin, which is major, If Blackrock wants to compete they will have to either start buying bitcoin which will most likely set the bitcoin price well over $100k or they will have to buy GBTC from grayscale both of which will be a huge win win for GBTC and bitcoin holders. Cause I'm seeing it happening.

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Could be. As I pointed out, I have learned several ways all my capital can disappear, by having them happen to me. Something else I learned from those events was that fraud happens, and there is more than one way to skin a cat, because I never got skinned the same way twice. Is grayscale a stock corporation? BlackRock owns a majority interest, together with StateStreet and Vanguard, in ~90% of stock corporations in the world. Let's hope they're not vulnerable to being bribed, blackmailed, or bamboozled, either.

You only profit when you sell. Sell high, my friend!

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Ohh, yeah that's true anyway. I guess selling than buying will be the best option right now and now to avoid story that touches the heart.

Thanks so much @valued-customer, your words has really been insightful.

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(Edited)

Don't take my advice! I'll lead you astray. I dunno how long BlackRock will keep pumping the price of BTC. You have to judge that yourself.

Good luck!

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(Edited)

I've already died countless times

let the game begin

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I like your optimism!

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I guess that, having lost everything I owned more than once, I am well aware things could be very much worse than they are. Maybe this time I'll get to squander my fortune properly, rather than being stripped of it by nefarious means.

Thanks!

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