I remain convicted in my belief that there is not enough Bitcoin for sale for the institutions right now. People are trying to gain price exposure by buying mining companies, MSTR, and other Bitcoin adjacent “derivatives”. I think any marginal buyer of any substance is leading to crazy, bid up buying, and they are trying to figure out how to navigate the current market dynamics. TLDR; gon get nutty.
Discussion
agreed
There is not enough liquidity. People don’t understand this yet but they will soon. If they want access to real bitcoin they will have to pay way more than 30k to get it.
I should probably get an S19 soon
I think you're right. When this breaks open then we'll see some real price discovery.