much like all of those grey-haired investors who buy stocks in tech startups for products they will never come close to understanding, let alone using.
Use caution there whippersnapper. Them's pretty close to fightin' words 😂
The market cap of Bitcoin is 1.05 trillion dollars, the entire industry less than 1.8 trillion. It is nothing.
That's darn near the value of the 1.9 trillion airdrop that the US government just pushed out the door. Yes, airdrop. Printed almost entirely out of air.
It IS good to see Morgan Stanley get in the game, even though all the current products they are selling is funds of BTC that will have an entirely appropriate % raked off before even the early investors get theirs.
What if it's too easy? What if the 'managed BTC funds' return a good enough level that nobody ever considers going on their own? I think that would be pretty good for us privateers. Quarterly returns would almost always be up even though trading would be limited to a fairly narrow price band...
It's a brave new world that is coming.
I am greying up fast :)
Back at the start of 2018, an "investment company" called me and offered some services. I said no thanks, I am in crypto. To which they replied, "ah, in that case we have a riskier option that you mmight be interested in, as we offer Bitcoin investment. In the last year, it has returned 20%!"
But Bitcoin went 2000% in that last year
Scammers everywhere, the biggest of all are those at the top of the pyramid.
Note: I added this reply to the wrong comment :D
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