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

[MyCryptoDomains]

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?

[NeuroticFish]

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?

Why you guys keep discussing that same thing over and over again instead of looking 2-3 posts around (or even using search)?!

This topic is about the same thing: https://bitcointalk.org/index.php?topic=5329214
This topic may also help: https://bitcointalk.org/index.php?topic=5329096

[Charles-Tim]

After Tesla bought $1.5 billion worth of bitcoin, the price of bitcoin increased to over $50000 after some days, Microstrategy bought $1 worth of bitcoin at the time with the price slightly above $50000. Although, Microstrategy has been buying bitcoin before, but saying big companies are not buying bitcoin after Tesla bought bitcoin is very wrong.

Grayscale also open investment for investors. That is another big company in the crypto community, Grayscale bitcoin holding has increase to over $38 billion recently.

There are many other institutions that have been investing in bitcoin, it is just a matter of time, more big companies will join and invest once the creteria before investing in bitcoin is fulfilled, this can be more increase in marketcap. Bitcoin is the digital gold, it will not be surprising to see bitcoin marketcap getting to 5 trillion in a decade to come, or before. What is most important is that bitcoin is deflationary, and this makes people becoming to prefer it than other assets also because it has limited supply of 21 million which makes it appreciative in design.

[DdmrDdmr]

Yesterday I came across some data that Coinbase reported regarding their quasi-closure of Q1. The data is an estimate, but per their own words, is based on their information as of the date they published the information (06/04/2021), so it should/could be rather accurate. Amongst the information they released they stated that:

•Assets on Platform of $223 billion, representing 11.3% crypto asset market share
◦Includes $122 billion of Assets on Platform from Institutions

See: https://www.sec.gov/Archives/edgar/data/0001679788/000162828021006601/exhibit991-8xk.htm

Now the above would imply that more than half of the assets on the platform are related to Institutions. That could give the reading that, on the one hand, many individuals and institutions manage and keep their crypto assets on the platform (the data prompts state "on Platform" instead of "managed through the platform" - but it may be misleading terminology). On the other hand, perhaps the term Institution is rather laxed here, and whilst we have in mind the big corporations that give such juicy headlines, smaller retail stores are possibly counted here amongst the institution's sum.

It’s not just the biggys that make market, but they do push it and make way more noise.

[MyCryptoDomains]

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?

Why you guys keep discussing that same thing over and over again instead of looking 2-3 posts around (or even using search)?!

This topic is about the same thing: https://bitcointalk.org/index.php?topic=5329214
This topic may also help: https://bitcointalk.org/index.php?topic=5329096

My thread is about big names expected to come into the BTC world as investors.

BTW the majority of talk in this forum section is about the same thing (future of BTC/ BTC price) if you haven't noticed.

[NeuroticFish]

My thread is about big names expected to come into the BTC world as investors.

The big names do buy. At least some of them. The chart in both the threads I've already posted suggests that.
What you seem to expect is (like the other topic!) news/headlines about new buys. And I have a feeling that some of those investors prefer to stay rather silent instead of triggering price increase, which won't favor them yet...

[avikz]

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?

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!

[Expecto]

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?

I think companies are still making a good investment into Bitcoin. Those investments are just far less than the amount Tesla made. For example, MicroStrategy still continues investing into Bitcoin. They bought some Bitcoin again which was worth 15 million dollars a few days ago.

[Tytanowy Janusz]

They wait with announcment after BTC will push above 60k. Such announcment will have more publicity.

Also tesla announcment was so big because Tesla is so popular. Already 43 companies added bitcoin into balance sheet. - https://news.bitcoin.com/btc-balance-sheets-42-companies-hold-1-3-million-bitcoin-worth-more-than-65-billion/
I assume this number will go 10x by the end of 2021-2022.


Worth to read.
https://bitcointalk.org/index.php?topic=5327971.msg56696242#msg56696242

[capcaypro]

actually there are several topics like this in this forum that I know about so far, but this is very interesting to be discussed.
With the supposition that large companies and large investors can indirectly increase prices, it is not impossible for other companies to follow companies that are already in the bitcoin world to increase their profits. because if we see now that bitcoin dominates like a treasure hunted by many people and this is like a symbiotic mutualism that benefits all parties.

[Vishnu.Reang]

"Avalanche" of big companies purchasing BTC? At least I was not expecting any such "avalanche". Bitcoin is still a non-traditional investment asset and 99% of the corporates doesn't have enough courage to invest in this asset. Tesla is an outlier, since they themselves are not a "traditional" corporation. The problem is that in many of these big firms, the key people who makes the important decisions are mostly in their 60s and 70s, who have a natural aversion to new innovations such as cryptocurrency.

[bosede1]

T least you can say for your self that the recognition and the price increase within this two month is far more than the years come by, so I think the best thing for you to do it to relax and watched the market don't be in haste.

[DeathAngel]

Corporate buying is OTC & we won’t know if there are lots of institutions buying until they announce it. They are not going to announce until they are finished buying. Think about it, if Apple announce they are buying bitcoin then the price will moon, these companies will only announce their purchasing once they are finished buying.

[pixie85]

Corporate buying is OTC & we won’t know if there are lots of institutions buying until they announce it. They are not going to announce until they are finished buying. Think about it, if Apple announce they are buying bitcoin then the price will moon, these companies will only announce their purchasing once they are finished buying.

+1

We don't know how big corporate buying is just like we don't know how many coins are lost forever.

Corporations allow us to know as much as they want us to know. JP Morgan was bashing Bitcoin so they could buy. Many companies have the same strategy. They will buy and then break the news about their purchase to pump the price even if they are not planning to sell the news. They usually do it so that other companies - their competitors have to pay more and so that they can show profit in the books.

[ChiBitCTy]

I first off think that there likely have been some bigger corporations that are buying in and we just don't know it yet.  These big companies seem to be making purchases at exchanges like Coinbase via "Over the Counter" trading, so that it doesn't effect the price as it would if you were buying right off an exchange ( maybe I'm wrong about this, but I don't think so).  I also think we will see more companies join in, but these things take time.

Just my two Satoshis.

[tbct_mt2]

Corporate buying is OTC & we won’t know if there are lots of institutions buying until they announce it. They are not going to announce until they are finished buying. Think about it, if Apple announce they are buying bitcoin then the price will moon, these companies will only announce their purchasing once they are finished buying.

This is their market manipulations. They buy in silence, on OTC market. Their buy deals can be finished long time before their announcement time. They release their announcements at times when they think big news can have good effects on the market. They don't release news immediately after completions, they wait for right time instead.

The crypto market is different than the stock market and whales don't have to announce their buy schedules ahead of time.

The table for Bitcoin Treasuries Follow-up is expanding.
https://bitcointreasuries.org/

[so98nn]

It;s all about the timing mate! These big players will always wait patiently for the market to do all kinds of chaos that they want in first place. For example, buying, selling, pushing the market up and then down and what not! They would wait for the surge to stabilise because when they buy more BTC they don't buy 1-2 btc they go for 50's and 100's which can make mega moves in the market. So they will never risk their buying and selling process in the middle of chaos when market is too much unstable.

On the other hand Tesla's news is good and it is still in power since Tesla lover might be already buying the Tesla with BTC and silently Elon is getting good number of BTC's on his account. It would be Elon who will later move the market silently.

[pooya87]

People expected an avalanche of big companies to buy BTC. So far it hasn't happened yet it seems.

Some people always expect all kinds of crazy things, that doesn't mean they should happen as they expect. For example last year a lot of them were expecting the price to fall down to $1000 and obviously that was crazy and didn't happen.
This is the same, the bitcoin adoption is not something you can expect to happen overnight. It is a slow process that could take another decade or two. Besides these are just "investors" not adopters so you shouldn't even care about it in first place.

[Lorence.xD]

There will be downtimes, we can't expect that everyday is a Christmas for bitcoin and cryptocurrency market. Just wait and there is still a lot of time and future is uncertain so we just have to hope for the best.

[tinopener]

Bear in mind that some companies might not want to add actual Bitcoin to their assets, so would use vehicles like the Grayscale trust.

Some may be putting off their decision until a US ETF is approved.

Also bear in mind that Grayscale is looking to convert to an ETF depending on the latest batch of applications.

Therefore, I reckon there may be some backed up demand depending on ETF approvals.