There have been a growing number of people sell out their BTC specifically due to some unfolding drama, surely that may play a role. It definitely comes as a surprise after being told by everyone how it will never go back down and how it will only ever gain value over time.
I’m not in crypto but when my buddy who dabbles in it and has made money told me Bitcoin crossed a trillion dollars of market cap last week I damned near chorted beer out my nose. You could own a lot of really top tier companies with a trillion dollars. If I had a trillion bucks I’d much rather own Exxon, Goldman and JPMorgan outright (less than a trillion aggregate market cap) than own all the bitcoin in circulation.
Of course. They have all the institutional framework and infrastructure. That's pure power. With BTC you'd have to convert it. You wouldn't be alive long enough to convert a trillion dollars worth of BTC
There have been a growing number of people sell out their BTC specifically due to some unfolding drama, surely that may play a role. It definitely comes as a surprise after being told by everyone how it will never go back down and how it will only ever gain value over time.
I’m not in crypto but when my buddy who dabbles in it and has made money told me Bitcoin crossed a trillion dollars of market cap last week I damned near chorted beer out my nose. You could own a lot of really top tier companies with a trillion dollars. If I had a trillion bucks I’d much rather own Exxon, Goldman and JPMorgan outright (less than a trillion aggregate market cap) than own all the bitcoin in circulation.
Of course. They have all the institutional framework and infrastructure. That's pure power. With BTC you'd have to convert it. You wouldn't be alive long enough to convert a trillion dollars worth of BTC