#Bitcoin    is a Veblen good - as the price goes up, more people want it.
Retail investors don't understand this so they sell as soon as they're in profit.
Institutional investors understand this.
They will accumulate Bitcoin and NEVER sell.
Does
@GarethSoloway
know that the ETFs are buying $500M+ of #Bitcoin per day??
When there's not enough #Bitcoin for sale, billionaires will offer ANYTHING to own some.
You'll be able to get:
- Houses for 0.01 BTC
- Cars for 0.001 BTC
- A month of groceries for 0.00001 BTC
They will give you everything you need...
Because YOU have what THEY want.
Soon everyone will be exposed to #Bitcoin whether they like it or not
Every company in the S&P 500 will eventually have Bitcoin in their treasury
They will need it to survive
You can see from these 3 pictures that there is A LOT of #Bitcoin for sale from $68,200 to $70,000...
But from $70,000 and up, there aren't that many!
$70,000 is what traders like to call "resistance." A lot of sellers want to get rid of their coins at that price.
This is likely psychological. A lot of people bought at 60k+ in 2021 and want to sell at a profit and chose a rounded number. Others think Bitcoin will never reach a new high. There are even some who think this is a Ponzi scheme.
Whatever it is...
Bitcoin ETFs are buying something like 10,000 BTC per day.
I think by the end of Monday, if not Tuesday, this wall of sellers will be taken down.
Thoughts?
This is #Bitcoin's chart after ETF approval
3 weeks of the price going straight up
Stop trying to time the market
Just buy Bitcoin at any price, and you'll eventually be ahead
Study how money works whenever you feel like selling your Bitcoin
If the price dumps to $3k, I'll be happy because I can buy MORE - stupid people who don't know what they own are selling it to me at a discount
My goal here is long-term wealth, not short-term riches
I have a 10+ year time horizon, but if my financial goals for 2034 are achieved in 2025, I won't be disappointed
If you did the work to understand #Bitcoin,
And you went out of your way to buy #btc during the depths of the bear market,
And you're still holding those coins,
You contributed to the Bitcoin network by increasing the financial value of the block subsidy given to miners for securing the network.
As the value of the block subsidy increases, more miners join the network to mine and collect the block reward.
As more miners try to join the network, the amount of energy being used to find hashes for new blocks increases and adds security to the network.
As the network becomes more secure, more people want to hold Bitcoin.
Bitcoin's success can only be envisioned by few, and those people will be rewarded.
Long-term holders are the MOST IMPORTANT part of the Bitcoin network.
Without them, self-sovereign money wouldn't exist.
Any wealth coming your way in the next 6-18 months was earned - don't let ANYONE tell you that you got lucky.
IMO
@peterschiff
can't imagine paying more for #Bitcoin    than its price when he was first introduced to it (I think this was ~$1).
He was so wrong about Bitcoin that he's traumatized.
He likely thinks people will claim he's a fraud if he suddenly becomes a Bitcoiner and ditches all the people he convinced NOT to buy Bitcoin.
Peter has spent so much of his time and money to build a business that sells gold, and Bitcoin disrupts that.
All of his time invested into gold over the last 10+ years could instead have been used to build and compound on a Bitcoin-based business.
If you're listening to Peter, you probably still think Blockbuster was smart to ignore Netflix, and VHS/DVDs will make a comeback.
Over the last 2 months, #Bitcoin ETFs have been buying $500 million+ of BTC every day.
It seems like, as the price goes up, the buyers of these ETFs are MORE interested in purchasing shares.
What will this do to Bitcoin over the next few years?
IMO this demand is never going away.
Most people have 0 allocation.
Most coins are held by people who never want to sell.
People who want exposure will need to pay more and more for every fraction of BTC they want to acquire.
IBIT is RIPPING
This will likely be Blackrock's ETF with the most assets under management within 10 years (if not a lot sooner)
Total volume is OVER $2.5 BILLION already today, and there are still 2 hours of trading left.
#bitcoin
NEW ALL TIME HIGH #Bitcoin
Blackrock's #Bitcoin    ETF, IBIT, now holds 191,132 #BTC   , up 3,601 from yesterday.
Blackrock now holds 0.91% of the total supply of BTC, with its total assets valued at almost $12.9 billion.
900 BTC are issued per day. In April this will drop to 450.
Blackrock clients bought 4x the newly issued supply yesterday.
$IBIT has OVER $500,000,000 in volume in the first 40 minutes of trading today.
#Bitcoin
If you were one of the few people who got to buy #Bitcoin below $69,000
CONGRATS
You were able to buy for less than most of Wall Street and almost all retail investors.
Do you think the stock market will continue to provide protection against inflation over the next 20 years?
When baby boomers need to start liquidating?
Do you think inflows will continue to outpace outflows, even though the generation with the most wealth will be selling?
I think this is something a lot of people are ignoring when they predict that you need to invest $100-$200/month to become a millionaire over the next 40 years.
What will a million dollars be worth then?
I think millennials will need $4M-$5M to retire, and this will be to JUST fund the bare minimum spending.
Gen Z will probably need $5M-$7M.
I think inflation will rise as governments around the world kick the can down the road for even longer to support baby boomers who barely saved anything.
This is going to hurt future generations for a very long time...
Unless they save in #Bitcoin.
You don't have to go all in on #Bitcoin      . You don't have to sell all your stocks stocks real estate to buy Bitcoin.
You can buy fractional units of Bitcoin. 1 #BTC       can be split into 100,000,000 units. Start with buying enough to have 1% of your portfolio allocated to Bitcoin.
For example, if you wanted to spend something like $100/month on Bitcoin, YOU CAN.
Think of Bitcoin as insurance.
You know how you make a monthly payment for your health insurance? If something goes wrong with your health, you know it will be covered.
Bitcoin is insurance against the current financial system collapsing. If something happens to the current system, your wealth will be preserved. This is an alternate way to preserve wealth for the future.
The best part is once you start buying small amounts, you'll want to learn more...
And you'll start going down the rabbit hole and learn why we have so many economic problems (our money is designed to steal from us), and why Bitcoin solves so many of the issues we deal with today.
1 BTC = 100,000,000 Satoshis
1 Satoshi = 1.06 Naira 🤯
At some point 1 Satoshi = 1.06 USD
#Bitcoin is designed to rise in value forever
Fiat is designed to drop in value forever
Once you see this, you can't unsee it
#Bitcoin
- Moves at the speed of the internet
- Takes power from corporations
- Allows anyone to store value
- Incentivizes societal growth
- Kills crony capitalism
- Has a limited supply
- Is neutral
Bitcoin will be the world's reserve currency at some point.
$IBIT ended the day with over $1.5 billion in volume
Demand is ramping up
Supply is about to be cut in half
And there are still people waiting for $10K
#Bitcoin
Everyone is eventually going to bend the knee to #Bitcoin.
Including Vanguard.