Two months since Tesla BTC purchase. Corporate buying less than expected?

[20kevin20]

Let's acknowledge the fact that something Microsoft, Apple or Tesla does is not outright a good choice.

I am still expecting a large domino to launch in the mid-long term. However, the largest players in the pool are probably waiting for Tesla's investment outcome first. Since Bitcoin's drops were all very rough and we've been bullish for longer than ever before, why would a large corporation invest in it?

And then.. up to this date, Tesla's investment has gone wild on profits. Some competitors might be waiting for a significant BTC correction so that they could purchase much more BTC than Tesla afforded in order to compete with their profits.

Give it time. Don't expect all large corps in the world to get into BTC within a month. Not even 6. These news will come repeatedly over the next few years. Whether this is good or bad for BTC.. that's a quite debatable topic..

[tinopener]

Let's acknowledge the fact that something Microsoft, Apple or Tesla does is not outright a good choice.

I am still expecting a large domino to launch in the mid-long term. However, the largest players in the pool are probably waiting for Tesla's investment outcome first. Since Bitcoin's drops were all very rough and we've been bullish for longer than ever before, why would a large corporation invest in it?

And then.. up to this date, Tesla's investment has gone wild on profits. Some competitors might be waiting for a significant BTC correction so that they could purchase much more BTC than Tesla afforded in order to compete with their profits.

Give it time. Don't expect all large corps in the world to get into BTC within a month. Not even 6. These news will come repeatedly over the next few years. Whether this is good or bad for BTC.. that's a quite debatable topic..

Also ESG and climate issues are in play now, especially as we come out of lockdown and with the Climate Conference in Scotland later this year.

Every week now I'm cashing in a little bit of Bitcoin as I get worried about this.

[isaac_clarke22]

We remember that day when the news came out. BTC shot up from $38K to 44K and to 48K the day after. People expected an avalanche of big companies to buy BTC. So far it hasn't happened yet it seems. We have seen news about some companies around the world buying crypto but they were not "big" big players like Tesla. Do you think corporate buying so far was not as big as we expected when Tesla made the news?

There were big names/players that already were into Bitcoin specifically. Not sure if they purchased, but if adopting/including it as payment method would count then Microsoft did already back in 2014.
They were now surveying actually for Xbox users if they would like to pay through Bitcoin though.
From what I read, they continued accepting Bitcoin payments from its halt before.

Valve adopted Bitcoin payment to their Steam platform before though, but it got pulled out for obvious reasons of "high fees and volatility"

Sources:
1: https://news.bitcoin.com/microsoft-is-surveying-its-xbox-users-about-adding-a-bitcoin-payment-option-to-the-store/
2: https://www.coindesk.com/microsoft-resumes-bitcoin-payments-after-halt-over-instability
3: https://www.theverge.com/2017/12/6/16743220/valve-steam-bitcoin-game-store-payment-method-crypto-volatility

[Kong Hey Pakboy]

If you are that worried that they are buying less then you might as well go their board meetings and frantically tell them to buy more bitcoin and hodl it for their company, its not like we have a say on what they decide to do but we have to wait it out, bitcoin can wait and there is still a lot of month in this year so you better wait.

[adzino]

We remember that day when the news came out. BTC shot up from $38K to 44K and to 48K the day after. People expected an avalanche of big companies to buy BTC. So far it hasn't happened yet it seems. We have seen news about some companies around the world buying crypto but they were not "big" big players like Tesla. Do you think corporate buying so far was not as big as we expected when Tesla made the news?

Not every "big" players are willing to take such huge risk. They are probably waiting and observing how Tesla is managing stuffs, before they themselves dive into bitcoin investment. We just need to wait and watch too. At least other big companies are now thinking about integrating bitcoin/crypto currencies into their system which is a good sign. We don't want them to just invest. We want them to use it as a regular currency and allow people to spend it on their platform. We have been hearing about VISA willing to integrate and become a bitcoin processing gateway, lets see how that turns out.

[michellee]

We do not know when people buying bitcoin because of that raise because they will not tell the public that they already buy bitcoin. But I am sure that many of them buying bitcoin a few months ago before the bitcoin price increases. That also happens to the big corporate and as I said before, they will secretly buying bitcoin without anyone know, and if they want to tell the public, they will give the number, and maybe that is not the real number that they already bought.

[aysg76]

The less number of corporates enter into this game, the better for commoners like us! It is already extremely difficult for a common person to enter into crypto market without buying from an exchange. If more and more corporates enter into this game, whatever chance we common people have now, will be lost. Then corporates will have the power to manipulate the market at their own will.

So if the corporate adoption is happening at a lower pace, it's a good news and should remain as it is!

Yes why are we worrying about any big institutional investor to invest huge funds into Bitcoin market just to push price higher?We are not seeing the other side that if more institutions invest in Bitcoin they would be holding a some large portion of supply and wealth would be concentrated again in few hands.The retail investors also need to have significant effect over the market to make some balance.The price surge is positive sign but with this it is becoming extensively difficult for small players to invest in Bitcoin.The price of one BItcoin is above $61k which is not bothering big institutions with billion of funds but will affect the common man with not much deep pockets.So this gap of time can give opportunity to retail investors to buy at this prices before any other major company announce it's support to btc pushing prices further high.