| Deltamudd - 3/17/2024 21:49
Holy cow. TLDR. Doesn’t Blackrock already own more btc than micro?
*no they don’t my bad. Black has 11000 and mstr has 193000
but that’s the bull case. They own a lot of Bitcoin. That’s it
I mean the charts gone straight up literally. I think there’s more room for upside but if Bitcoin is bullish find a couple cryptos with actual use cases and bank on that anything under 1billion. Last bull run even weak use cases did 10x
Ethereum still hasn’t breached ath
And in 2017-18 ish I remember people talking about the coming ai boom and at that same time a bunch of ai cryptos came out that were for the most part garbage. It reminds me of during this last run seeing a bunch of web3 and meta stuff trying to boom and I wonder if after this ai cycle is over if the web3 meta verse will have its moment. I guess that’d be years out tho
Ha yes the post looks terribly long on a smartphone screen. I mainly use a desktop to type. Looks manageable to me on a desktop
Blackrock does not own any of the bitcoin in blackrock etf its customers do they charge a fee for holding it for them. They do not have the ability to issue debt, issue shares and lever up or lever down like MicroStrategy. In theory BlackRock's etf tracks the price of bitcoin and charges a small fee nothing more. MicroStrategy owns 205,000 bitcoin. Currently 19 million bitcoin have mined so they own 1% of all bitcoin.
The utility of bitcoin is to preserve wealth through time and act as a secure unit of account with a capped limit that is easily divisible and transferable. The world has not had this in the past. Most people are not wealthy enough to invest in farmland or real-estate property. Poor people need a way to save that is not complicated and will not be debased like fiat. Rich people want a way to preserve and grow wealth that is liquid, portable and divisible with no maintenance .The rich land investor doesn't want to sell 1 acre of his section of land every time he wants to spend money. Most people that work do not want to invest their money they just want to save it. They are forced into the stock market as the only way to save because of inflation using bitcoin fixes this issue once you figure it out.
It is the other crypto currency's that have no use case. XRP can do nothing bitcoin cannot with once you take into account layer 2 that can be built on top of bitcoin to speed transactions and do currency swaps. Eth is a coded network duck taped together making it so overly complex most people cant see its pile garbage that doesn't a token to do anything it does. To explain why nearly every crypto besides bitcoin is trash would make my other post look short.
The issue of the other cryptos from a investing standpoint is security. Coin base has been known to lock accounts and seize funds and in my opinion the larger the account the more likely they are to steal it. Its hard to know what crypto will explode because they are mostly useless hype to get people to jump in. Not a easy game to play. If bitcoin averages a 30% a year over the next 10 years is that not enough? |
MicroStrategy stock of the decade
