Ever since bitcoin ETFs became a thing early this year there's been a ton of hype and mainly retail investors buying it up. This is because access to it through 401ks and other means is now possible. A vast majority of the money pumping into bitcoin through these ETFs has mainly been your every day person and not so much companies or large institutional investors.
The Catalyst
Many thought we would see bitcoin rise to over $100,000 even predictions of it being $250,000 or more by now with the ETF approvals and what many thought would be main stream investing.
However these one very big point that is missing from this and that's that institutional investors seem to not be investing but not because they don't want to it's primarily because the clearing houses these large caps use don't have the crypto in place to be able to do so.
However a new catalyst is starting to show that could be even bigger then that on institutional investors and that catalyst being a new headline we just saw come out about Wisconsin holding bitcoin ETFs as part of it's treasury.
What This Shows Us
What this is showing us is the governments, cities and states are starting to stack and realize the real potential of cryptocurrency as a viable means to building wealth and build their books.
A major and boy do I mean major issue in the USA right now is debt. From a national level of over 34 trillion dollars and still climbing rapidly.
It's now a bet on a way to curb the inflation and get their balances ahead of others. Wisconsin currently holds a whopping 2.4 million shares of BlackRocks's iShares Bitcoin Trust otherwise known as IBIT worth almost 100 million dollars!
The idea is that bitcoin really wouldn't moon shot until governments, states and cities started to really invested and open up their portfolios to bitcoin that we would really start to see any type of real meaningful growth.
Corps, Banks and Others
Another big factors from the above is the massive adoption which has been happening with banks as well. I wrote about this a bit the other day in my article titled Why Banks Are Getting Involved highlights banks also massively adopting and building bitcoin into their asset classes. We also have major businesses also grabbing up huge amounts of bitcoin all while governments and higher ups trash talk it to gain even more at lower prices.
A saying I live by and applies to all things including this is "Pay less attention to what men say. Just watch what they do." which mainly means don't act on what someone is telling you while they are doing something else their actions speak louder than words.
Posted Using InLeo Alpha
!ALIVE
!PIZZA
!hiqvote
!PIMP
@tipu curate
Upvoted 👌 (Mana: 31/41) Liquid rewards.
You must be killin' it out here!
@libertycrypto27 just slapped you with 1.000 PIMP, @bitcoinflood.
You earned 1.000 PIMP for the strong hand.
They're getting a workout and slapped 1/2 possible people today.
Read about some PIMP Shit or Look for the PIMP District
@bitcoinflood! You Are Alive so I just staked 0.1 $ALIVE to your account on behalf of @ libertycrypto27. (1/10)
The tip has been paid for by the We Are Alive Tribe through the earnings on @alive.chat, feel free to swing by our daily chat any time you want, plus you can win Hive Power (2x 50 HP) and Alive Power (2x 500 AP) delegations (4 weeks), and Ecency Points (4x 50 EP), in our chat every day.
Thank you!
Good old Wisconsin! Never had a state population been more willing to say hold my beer and watch me do this!
😂 you have to love it
@libertycrypto27, the HiQ Smart Bot has recognized your request (1/2) and will start the voting trail.
In addition, @bitcoinflood gets !LOL from @hiq.redaktion.
For further questions, check out https://hiq-hive.com or join our Discord. And don't forget to vote HiQs fucking Witness! 😻
lolztoken.com
You are out of jokes for the day!
@hiq.smartbot you can call @lolzbot a maximum of 8 times per day.
Level up by buying more $LOLZ so you can share more jokes per day!
$PIZZA slices delivered:
@libertycrypto27(1/15) tipped @bitcoinflood
This post has been manually curated by @bhattg from Indiaunited community. Join us on our Discord Server.
Do you know that you can earn a passive income by delegating your Leo power to @india-leo account? We share 100 % of the curation rewards with the delegators.
100% of the rewards from this comment goes to the curator for their manual curation efforts. Please encourage the curator @bhattg by upvoting this comment and support the community by voting the posts made by @indiaunited.
Then I guess BITCOIN and crypto will settle with a total market cap of 34 trillion. Currently, it is hovering around 2.5 trillion. In that case, just imagine what would be the projection for $BTC?
Exactly those who FUD are actually the buyers of Bitcoin and we all get to know about that in hindsight.
Thank you.