We all read countless good articles about bitcoin, why it will prevail. Today I decided to add one more very important factor that no one has discussed yet. Ok, let's say one day bitcoin drops to $1k. Any billionaire with half a brain will use that opportunity to corner the market and make a killing. Bitcoin market cap will become cheap enough for any billionare to make a fortnune , here is how. Ok, on one side we have crypto market that is esentually unregulated, and on the other side we have a GBTC stock that tracks bitcoin. 8 million avg volume, 8.5 million short interest, 181 mil shares outstanding. We all know that market order of say 500-600k bitcoins (with the right press coverage) will move price dramatically. Hell, 1 million bitcoins will cost $1 billion, think about what's going to happen. Here is what smart investor would do. He would accumulate gbtc units and wait for the right moment when the price is cheap enough to place a huge market order on crypto exchange. Bitcoin will rise dramatically, but gbtc will rise even more as short sellers will be forced to cover their short positions. For those who are not familiar with term "short squeeze" can do some reading
https://www.investopedia.com/terms/s/shortsqueeze.asp Investor than unloads gbtc units with huge profit and liquidates his bitcoin position while the market is on "hype" mode. Guys, believe me, someone will corner this market if price becomes low enough. As long as we have gbtc and bitcoin futures, bitcoin will NEVER become worthless. It's pretty much guaranteed.