Every Major Bank Will Have Exposure to Bitcoin, Says Renowned Fun - I would say this is a major reason the price has risen of late. In the last couple on months the likes of PayPal, JP Morgan & many financial institutions have released big Bitcoin news. Banks can see what's coming & they all want a piece of the pie; the pie is becoming quickly consumed. No doubt as I write this, banks are trying to OTC (Over The Counter) purchase large quantities of Bitcoin, as well as trickle buy as much as they can on the open market - without spiking the price too much. The thing is, hardly anyone is selling as they can see what's coming too. Before year's end I'm expecting at least a few more major companies/financial institutions to announce their purchase of Bitcoin.
Technical & fundamental analysis aside, with Bitcoin's halving recently completed in May & the amount of new solid Bitcoin hodlers, the price is going to no doubt get pushed to crazy new highs. When you look at exchange volumes the buy orders are remarkably higher than the sell orders; it seems, next to no one is interested in parting with their coins. The big money is definitely observing from the sideline; I think they're getting more nervous as Bitcoin gets closer & closer to it's previous All Time High. 2021 is going to be fun year if you have Bitcoin.
Bitcoin is the hardest money in the world & it's supply is strictly limited. If you want a simple reason to buy, this would be my main selling pitch. Everyone will want Bitcoin, most just don't know it yet - they will soon enough. Many are still skeptical Bitcoin will dump hard, I think it's clear we're about to enter the next wave. No doubt there will be crazy volatility, however this is what will bring further interest & more volume, pushing the price even higher again. Bitcoin is like a self-motivated & self-driven market. It's a positive-feed-back-loop with unstoppable momentum.
If you look over Bitcoin's entire trading history, the biggest dumps in Bitcoin (Like in March this year), have always been an excellent time to buy. Personally I always embrace them. Shaking weak hands out of the market is fantastic for sustainable long-term growth. The more I understand Bitcoin's design & how broken & corrupt the current financial system is, the firmer my conviction grows to hodling Bitcoin on the market pullbacks. I seem to get more & more bullish as time goes on. The more you learn, the more Bitcoin makes sense. The world needs Bitcoin.
All this corporate Bitcoin action is only just further cementing it's legitimacy to the world; increasing it's strength to possible future state attacks. The more money behind Bitcoin, the more financial incentive there'll be to defend it. In fact, Bitcoin resists most commonly talked about attacks, purely because there's a financial incentive not to. Sometimes I think Satoshi is extra-terrestrial - he/she has literally thought of everything!
Banks can see they are being made redundunt; in the short-term though, I think they will probably provide custodial/exchange/wallet services to remain somewhat relevant and continue to earn some revenue. In the long run however, they're easily doomed. Technology is advancing fast, it's getting easier and easier for people to hold,control, transact & exchange their own coins in a secure manner. This trend is not likely to slow.
In my mind, Bitcoin has already won. The only real question, do you want to be on the winning side of history?
Subscribe to future posts & claim 1000 FREE sats - www.bitcoin2009.com
If you'd like to donate:
Bitcoin: bc1qse0rhdkcutnejc7kacpjhkhepcgkmh3lrkz8tg
Lightning: https://tippin.me
