A 20% market correction doesn't scare anyone who has been in this industry long enough (it is expected). I don't think these institutions getting into crypto I doing so for profit alone (it is a major goal). Heard elon made over a billion from tesla's initial 1.5 billion dollars purchase of bitcoin. Will he take profit? I don't think so. The goal is longer than we think. Maybe we should play like the institutions--long and unemotional.
Posted Using LeoFinance Beta
Tesla isn't an institution, it is a corporation, so acts differently. The investment firms however, are only interested in profit, as that is their only real service. They are however invested heavily into many businesses, like BlackRock owns a lot of Facebook, Twitter and Amazon - but at the end of the day, it is all about ROI.
Posted Using LeoFinance Beta
Well, I just read somewhere that over $4.5B was liquidated in 24hours, which puts things into perspective.
However, I still believe the game now for these institutions and corporations is to have a foothold in the crypto industry. It's a means to their endgame--profit. If crypto does revolutionalize the world they want to be in a comfortable position where they can leverage from it, which makes me believe selling at this point for them isn't much of an option.
Posted Using LeoFinance Beta
On binance, the dip yesterday was 500M in BTC traded in 15 minutes - quite incredible really.
Yes it is, which is my point of this article. They are going long and are expecting much higher rates of return than current price offers. Once they have a stack, they are then able to build products and services around them for their clients, so that the real money starts flowing.
Oh, ,yeah - the goal is longer than most people think - though I have always gone very long on these things - though not necessarily without emotion all the time. =)