I cannot overstate the fact that Bitcoin is in its VERY early days of adoption. So early, its $125 billion market cap is CHUMP CHANGE relative to the increasingly anachronistic, $200-$300 TRILLION legacy financial markets. Heck, gold, which is on its way OUT as a monetary asset, is worth $7 trillion…with the $130 billion of it found on a sunken ship this week worth more than Bitcoin’s entire market cap!
Andy Hoffman (#HODLBTC) @Andy_Hoffman_CG
$130 billion of gold, "found" on the sea floor; i.e., more than #Bitcoin's entire market cap. Such an amount of #BTC will NEVER be found...and to the contrary, is VERY likely to be LOST!
7:54 PM - 18 Jul 2018
http://www.kitco.com/news/2018-07-18/-130-Billion-Worth-Of-Gold-Found-On-Sunken-Russian-Warship.html
Since launching CGC last September, I have written numerous articles and Tweets about how “whales” – individuals, institutions, and governments – will accumulate the vast majority of Bitcoin; and given the amounts involved, such purchases will dramatically increase the price…
https://cryptogoldcentral.com/2017/10/11/bitcoin-whales-ahoy/
…with the impact particularly powerful at today’s depressed price levels…
Tweets like this one were posted in May, at $8,500 Bitcoin…
Andy Hoffman (#HODLBTC) @Andy_Hoffman_CG
Think about it. Just $18 million, or .00006 of the $300 trillion of liquid assets in the legacy financial system, buys you 2,100 #Bitcoin - guaranteeing you'll ALWAYS be one of the world's top 10,000 holders. For $180 million, one of the top 1,000; and $1.8 billion, the top 100!
1:19 PM - 10 May 2018
So, when we learned today that a single Wall Street billionaire admitted to holding $18 million, or 1% of his net worth, in Bitcoin…
Matt Odell @matt_odell
Marc Lasry, Avenue Capital Group co-founder, chairman and CEO: -He's a billionaire -Around 1% of his personal portfolio is in bitcoin -Started buying a couple of years ago, but majority of buying was this past year -Average price ~$5k-$7.5k
8:00 AM - 18 Jul 2018
https://www.cnbc.com/video/2018/07/18/marc-lasry-personally-invested-bitcoin.html
…I added some meat to the argument, by pointing out how much capital will likely enter the cryptocurrency space in the coming years…
Andy Hoffman (#HODLBTC) Retweeted Matt Odell
There are 1,500 billionaires (so far), and at least 10x more institutions with a $1 billion+ to invest. EACH can move #Bitcoin $1,000+ with a TINY #BTC purchase as a percentage of their respective net worths... and MOST eventually will!
Andy Hoffman (#HODLBTC) added,
...unquestionably, in the TRILLIONS…
…as when the next phase of crypto FOMO begins – if it hasn’t already – the price rises will put the LAST ones to shame – led by SOON-TO-BE SWARMING BITCOIN BILLIONAIRES…
Vijay Boyapati @real_vijay
In this past hype cycle there were perhaps millions of people who made small allocations to BTC. In the next cycle these people, in the process of being mentally captured, will be ready to increase their allocation, dramatically increasing the reservation demand for BTC.
8:18 AM - 18 Jul 2018
I really wish you would unblock me on Twitter