Why people are so happy banks join Bitcoin?
Why there are happy the finance Elite join Bitcoin?
It makes no sense, except for greed and higher prices.
The creation of deviates around crypto does more damage in a long run.
He is IMO massive overleveraged with crypto. And in the case of massive dumps, he needs to sell.
Would this not be what a truly free market can do? To show crypto doesn't need CEOs that tell us the new narrative?
He holds with MicroStrategy around 100k BTC ( last I remember something like 78,5k), right?
Microstrategy is public traded. I don't think investors are happy if he burns massive amounts with that gamble.
2 things can happen. He holds and raises more money and buy-in more, and gets rekt later ( because dump into dump more). And to really hold coins, those coins need to be truly owned, and not by debt.
Or he sells and dumps into the market.
I think he will sell ( or sells already like elon with 1000$ per second buys with tesla, to don't affect the market).
Maybe he is already in profit, in dollars not on book profits. Otherwise, the pain level will come overnight. There are Super Whales out, that can absorb all volume with some trades and start the bear market.
These whales will be at some point so massive in profit, so they need to take profit.
The Volume is low. Nobody wants to buy at highs. Only ( i expect) retails.
And I don't think Saylor is totally wrong, but no asset in the world 20x and hold there with the only use case to transfer or sell it.
For me, it looks like retails looks only for the price of a single coin and not of the market cap. The dump potential is huge. And the Whales will use high liquidity to dump and destroy the price on low liquidity to take the rest ( or the major) out of the market.
And before you say banks are a thing from the past, I agree. But Shiba is never more worth than that :)
Crypto busts and regulators will tell the mass the "economic crisis" has something to do with crypto.
That's why regulations are needed.
That's why crypto is bad.
I think it will work until the next bull run, everyone forgets about it.
And it's already not wild west anymore. Nobody does ICO now. That has a reason.
