pooya87
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July 24, 2023, 10:47:17 AM |
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I still believe that ETF effects on bitcoin price has been greatly exaggerated, although it will definitely have a positive effect on the price.
Do you believe that $500,000 per Bitcoin is merely an exaggeration by 2025 - 2026 considering Bitcoin's trajectory since 2010? What I think is that ETF is not the only way we can reach $500k or even a million in the next couple of years although it can be a decent catalyst. In fact you should have seen my predictions a couple of years ago saying in this cycle (the one starting after 2018) price should have reached the ATH of $400k to $500k. I still believe that my prediction was correct, the only problem was the unprecedented economic events on a global scale which is what makes the prediction harder than any other time. The context of the topic is in how Gold's ETF, during 2003, helped started a strong surge on its price, AND it's trading near its ATH despite going through different economic crashes/crises. It could probably happen for Bitcoin too after ETF approval, no?
That's True.
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Wind_FURY (OP)
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July 25, 2023, 05:36:13 AM Merited by buwaytress (1) |
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From just a business and investment perspective, what would be the more significant investments than what BlackRock and the other asset managers are going to bring if their applications are approved? I can't think of any other unless Russia and other sanctioned countries start buying Bitcoin and HODL them in their "vaults".
Why, buying actual Bitcoin and holding it. As I've mentioned many times, institutional interest from 2016 already led to huge OTC buys. Look at the famed custodians holding huge amounts on behalf of institutional. Look at Saylor, more recently. Look at the Norwegian sovereign wealth fund from a few years back. They didn't need to sit around waiting fir ETFs (which interest short-term speculators). They went out and added actual coins to their portfolios. You don't think those are more significant than ETFs that sometimes also use derivatives? Then again. I'm no expert, just an opinion-monger ha. I'm no expert too, I'm merely a pleb like most people in BitcoinTalk, BUT what I heard is BlackRock has ownership rights in most United States Banks, they own shares in most of U.S. Pharma and they are said to be an administrator of 10% of trading of major stocks WORLDWIDE. The total assets they manage might be half of the United States' GDP, it's said to be worth 10 Trillion United States Dollars. BlackRock is also the biggest asset manager that owns shares in Amazon, Google, Facebook, other major tech companies, AND currently they want Bitcoin. To $500,000? ¯\_(ツ)_/¯
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Lucius
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July 25, 2023, 10:42:15 AM |
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~snip~
BlackRock wants to offer a spot BTC ETF to the market, which for me is something much different than the fact that they as a company have a special interest in Bitcoin or anything else except that their company increases profits. In addition, the part of their request in which they mention forks does not look the least bit friendly when it comes to Bitcoin, because they already suggest in that statement that they could choose any fork that would be more favorable for them at that moment. Furthermore, why the fascination with the trillions of $ they manage as if all that money or at least some significant part will flow towards BTC? We can hope for some things, but we still need to be realistic and take into account the other two possible outcomes - and the first is that the SEC will not approve the ETF, and the second is that even if it is approved, it will not have too much of an effect on the BTC price.
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buwaytress
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July 25, 2023, 11:00:46 AM |
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I'm no expert too, I'm merely a pleb like most people in BitcoinTalk, BUT what I heard is BlackRock has ownership rights in most United States Banks, they own shares in most of U.S. Pharma and they are said to be an administrator of 10% of trading of major stocks WORLDWIDE. The total assets they manage might be half of the United States' GDP, it's said to be worth 10 Trillion United States Dollars.
BlackRock is also the biggest asset manager that owns shares in Amazon, Google, Facebook, other major tech companies, AND currently they want Bitcoin.
To $500,000?
¯\_(ツ)_/¯
Fair enough. If more people see BlackRock the same way you do and have the same level of optimism, maybe it has some addon effects I can't yet foresee nor understand. For me, at the very least, they'd need to be buying actual coin a la MicroStrategy for it to make sense to me, but still -- I can concede that at worst, it can't be bad news. Half a mill, still too rich for me, but happy to eat my hat if that happens. Might even eat two hats.
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justdimin
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July 26, 2023, 04:44:40 AM |
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If more people see BlackRock the same way you do and have the same level of optimism, maybe it has some addon effects I can't yet foresee nor understand. For me, at the very least, they'd need to be buying actual coin a la MicroStrategy for it to make sense to me, but still -- I can concede that at worst, it can't be bad news.
Half a mill, still too rich for me, but happy to eat my hat if that happens. Might even eat two hats.
I feel like it's all about getting more attention, it could be via getting actual coins, it can be like this, it doesn't matter as long as bitcoin name is on the papers and in the news. If we can get more attention that means even the action itself may not increase the price, but the news of the action could end up causing others to join in and increase the price. That is the aim, and I believe that as long as billionaire people and companies enter the market that means that we are going to get richer. Microstrategy is a great example, they did something and if they are example to any other company eventually that means it's a bigger impact than the money they got in with, their money caused other money to get in, and that's what matters.
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Wind_FURY (OP)
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July 26, 2023, 02:29:49 PM |
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~snip~
BlackRock wants to offer a spot BTC ETF to the market, which for me is something much different than the fact that they as a company have a special interest in Bitcoin or anything else except that their company increases profits. In addition, the part of their request in which they mention forks does not look the least bit friendly when it comes to Bitcoin, because they already suggest in that statement that they could choose any fork that would be more favorable for them at that moment. I made these posts about the issue, https://bitcointalk.org/index.php?topic=5456494.msg62417885#msg62417885https://bitcointalk.org/index.php?topic=5456494.msg62452869#msg62452869I asked in one of them what's BlackRock's stance on E.S.G. - Environmental, Social, and Governance. Furthermore, why the fascination with the trillions of $ they manage as if all that money or at least some significant part will flow towards BTC? We can hope for some things, but we still need to be realistic and take into account the other two possible outcomes - and the first is that the SEC will not approve the ETF, and the second is that even if it is approved, it will not have too much of an effect on the BTC price.
I have no fascination. Simply noticed the large difference in networth between Chad Saylor and BlackRock. Larger networth = Possibly a larger investment into Bitcoin. It probably might be three times Saylor's investment by BlackRock? More if we consider the investments of the other major asset managers?
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savetheFORUM
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July 26, 2023, 06:49:44 PM |
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Honestly considering all these huge billionaire companies putting billions into bitcoin, it's obvious that they are going to tell others and we are going to grow thanks to that. It's simple as that, we are going to have bigger companies end up buying bitcoin as investment and keep doing that all the time and make sure that it's going to be a big deal.
Making profit is good and all, but that doesn't mean that we are not going to end up with a much profit unless we get those involved, and they are going to get involved when they see these other companies who got in with billions and made billions more. That's going to be magical for us, and will take some more time but not a ton, like maybe 10 years at most and that will be great.
Expecting the price to hit a six-digit valuation in a decade might not be a lot to ask but only if we are expecting it to hit $100k and not way high than that because for that to happen, it will take a lot of cycles to reach that as well because we can't expect the price to just keep going up, there will obviously be bear runs as well in the middle, and after every bull run, the price might go up even more and if adoption increases significantly, bear runs might not be as deep as they used to be in the past. However, you are right that everyone, including big companies, might get interested once they see others getting profits through their investments, some of the big companies might even be making investments in the background without making it public, we never know that unless they make announcements.
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dansus021
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July 27, 2023, 12:48:47 AM |
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I respect your opinion and you have a point, but I can't entirely agree. Bitcoin is a blackhole for fiat currencies. If the Cabal behind the Central Banks print more, Bitcoin will absorb more and add to its market value. It's currently right there happening in front of us, and the ETFs will make the trajectory to six digits steeper and faster. Plus wait for QE when there's more liquidity available in the system. It might be "Oh My God It's Christmas" during March of 2025.
Wait? Would be great right if bitcoin drive its value and more and more people join the crypto industry right or I am missing something here so in my opinion Bitcoin ETF is great but anything also has advantages and disadvantages the big Disadvantage is those companies like BlackRock and other US companies will have the majority of Bitcoin maybe in total would be couple of percent of Bitcoin supply and the ETF buyer dont have real impact to Bitcoin world
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Lucius
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July 27, 2023, 10:45:16 AM |
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~snip~ I have no fascination. Simply noticed the large difference in networth between Chad Saylor and BlackRock. Larger networth = Possibly a larger investment into Bitcoin. It probably might be three times Saylor's investment by BlackRock? More if we consider the investments of the other major asset managers?
Of course, the difference in capital that you mention is incredible, because a few billion $ compared to $10 trillion managed by one company together with all other companies/funds make up tens of trillions of $ in value, and all this in a possible combination with investing in Bitcoin definitely tickles the imagination of anyone who thinks about it. The question of all questions is how much interest there is in investing in Bitcoin through such funds - is it 1%, 5% or maybe even 10% - are we talking about tens, hundreds of billions of $ or even trillions of $?
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Wind_FURY (OP)
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July 28, 2023, 06:13:27 AM Last edit: July 28, 2023, 06:24:11 AM by Wind_FURY |
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I respect your opinion and you have a point, but I can't entirely agree. Bitcoin is a blackhole for fiat currencies. If the Cabal behind the Central Banks print more, Bitcoin will absorb more and add to its market value. It's currently right there happening in front of us, and the ETFs will make the trajectory to six digits steeper and faster. Plus wait for QE when there's more liquidity available in the system. It might be "Oh My God It's Christmas" during March of 2025.
Wait? Would be great right if bitcoin drive its value and more and more people join the crypto industry right or I am missing something here so in my opinion Bitcoin ETF is great but anything also has advantages and disadvantages the big Disadvantage is those companies like BlackRock and other US companies will have the majority of Bitcoin maybe in total would be couple of percent of Bitcoin supply and the ETF buyer dont have real impact to Bitcoin worldI'm tired of wasting time making the same debate like a broken record. Read the hypothesis in OP about Gold's ETF and just connect the effect of an ETF in Bitcoin's own market. ![Cool](https://bitcointalk.org/Smileys/default/cool.gif) ~snip~ I have no fascination. Simply noticed the large difference in networth between Chad Saylor and BlackRock. Larger networth = Possibly a larger investment into Bitcoin. It probably might be three times Saylor's investment by BlackRock? More if we consider the investments of the other major asset managers?
Of course, the difference in capital that you mention is incredible, because a few billion $ compared to $10 trillion managed by one company together with all other companies/funds make up tens of trillions of $ in value, and all this in a possible combination with investing in Bitcoin definitely tickles the imagination of anyone who thinks about it. The question of all questions is how much interest there is in investing in Bitcoin through such funds - is it 1%, 5% or maybe even 10% - are we talking about tens, hundreds of billions of $ or even trillions of $? I actually don't know, but if BlackRock was correctly and accurately described in this post, https://bitcointalk.org/index.php?topic=5459385.msg62598645#msg62598645Therefore I truly believe BlackRock will make the largest investment by an institution/asset manager in Bitcoin's history. How much is Chad Saylor's Bitcoin investment? 0.05% of Total Supply?
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justdimin
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July 31, 2023, 11:29:23 AM |
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Of course, the difference in capital that you mention is incredible, because a few billion $ compared to $10 trillion managed by one company together with all other companies/funds make up tens of trillions of $ in value, and all this in a possible combination with investing in Bitcoin definitely tickles the imagination of anyone who thinks about it.
The question of all questions is how much interest there is in investing in Bitcoin through such funds - is it 1%, 5% or maybe even 10% - are we talking about tens, hundreds of billions of $ or even trillions of $?
I feel like you do not need trillions, think about it this way, there are so many big companies out there, I mean the ones that can spend at least a billion in bitcoin, some smaller but still hundreds of millions. If you think that 100+ companies like that all went into bitcoin around the same time, not at the same day, but like within the same month, the price won't be six digits? I mean that's tens of billions of dollars all go into bitcoin in a single month, maybe even close to 100+ billion dollars going into it in a month. I could see it reach to a million price. One of the main reasons would be there wouldn't be that much resistance neither, there are some here where we are, but not any higher levels have that kind of resistance.
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Wong Gendheng
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August 02, 2023, 11:57:59 AM |
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6 digit or $ 100k is certainly not difficult to achieve, and in my opinion $ 100k is difficult to occur in a short time, it may take at least 3 years and halving day that will occur in 2024 can be a measure of whether $ 100k or 6 digits take longer time or not.
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traderethereum
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August 02, 2023, 02:11:11 PM |
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6 digit or $ 100k is certainly not difficult to achieve, and in my opinion $ 100k is difficult to occur in a short time, it may take at least 3 years and halving day that will occur in 2024 can be a measure of whether $ 100k or 6 digits take longer time or not.
It's still difficult, especially at a time like this when the price of bitcoin is again being tested. Let's hope that it doesn't take bitcoin at least 3 years to start increasing and hopefully, early next year can be the right time for bitcoin to reach $60k again. And then, the bitcoin price can start another bull run until it hits $100k or higher. But the truth is we will not know when the bitcoin price can touch $ 100k in the next year, in 2 years, or even in 3 years. And we can only wait while preparing ourselves by having more bitcoins.
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Lucius
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August 02, 2023, 02:35:05 PM |
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I feel like you do not need trillions, think about it this way, there are so many big companies out there, I mean the ones that can spend at least a billion in bitcoin, some smaller but still hundreds of millions.
If you think that 100+ companies like that all went into bitcoin around the same time, not at the same day, but like within the same month, the price won't be six digits? I mean that's tens of billions of dollars all go into bitcoin in a single month, maybe even close to 100+ billion dollars going into it in a month. I could see it reach to a million price. One of the main reasons would be there wouldn't be that much resistance neither, there are some here where we are, but not any higher levels have that kind of resistance.
So you start from the assumption that all these companies will invest in Bitcoin at some point (perhaps when the spot BTC ETF is approved), and from 2009 until now they have not done so, even though there are no obstacles to it? What are the chances for such a scenario? Of course, if something like that were to happen (for some reason), then only the sky is the limit - but here we are talking about a radical turn from thinking "We are not interested in Bitcoin" to "Let's invest $500 million or $1 billion in BTC".
~snip~ Therefore I truly believe BlackRock will make the largest investment by an institution/asset manager in Bitcoin's history. How much is Chad Saylor's Bitcoin investment? 0.05% of Total Supply?
The first question is whether BR will get approval for that ETF at all, and the second, if it gets it, will their clients be interested in investing in BTC? What if the interest for that ETF is similar or only slightly higher than that shown by investors for futures BTC ETF? In my opinion, it is wrong to assume that they will invest the most just because they have the most assets under management.
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RewFrew
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August 02, 2023, 03:54:20 PM |
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I also think bitcoin price will hit six digit. But for it we have to wait more times. I think for six digit touch need minimum 2/3 years. We saw in 2021 bitcoin price hit $69k but after that bitcoin price fall and again came $15k. Now started to increase bitcoin price. Now bitcoin price moving near about $30k. I think within 2024-2025 bitcoin price again hit $69k. Then within one year bitcoin price will touch $100k. So my thinking we have to wait 2-3 years to hit six digit Bitcoin price. But my thinking When bitcoin price will hit $100k after that bitcoin price will increase speedily.
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Wind_FURY (OP)
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August 02, 2023, 10:36:28 PM |
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~snip~ Therefore I truly believe BlackRock will make the largest investment by an institution/asset manager in Bitcoin's history. How much is Chad Saylor's Bitcoin investment? 0.05% of Total Supply?
The first question is whether BR will get approval for that ETF at all, and the second, if it gets it, will their clients be interested in investing in BTC? What if the interest for that ETF is similar or only slightly higher than that shown by investors for futures BTC ETF? In my opinion, it is wrong to assume that they will invest the most just because they have the most assets under management. Needless to say, yes that's true, but that's for another discussion. I'm talking about BlackRock's company size, the volume and depth of their investments worldwide, and their history. If we take all that into consideration, they could build a larger stake than Chad Saylor. How much larger is BlackRock as a company compared to MicroStrategy? When I was doing my research on that, I found out that BlackRock owns 8.1% of MicroStrategy. https://fintel.io/so/us/mstr/blackrock
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August 03, 2023, 10:17:42 AM |
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~snip~ How much larger is BlackRock as a company compared to MicroStrategy? When I was doing my research on that, I found out that BlackRock owns 8.1% of MicroStrategy.
There is no doubt that BR is an incomparably larger company that is also globally positioned and, if I remember correctly, has offices in 30 countries and provides services in around 100 countries around the world. But it doesn't make much sense to compare BlackRock and MicroStrategy because they are two completely different business models, and Saylor is still one of the people who has the biggest influence in the company and is also completely crazy about Bitcoin. I assume that BlackRock does not just go in this direction without having insight into the wishes of its clients, but we cannot know how much of an effect it will actually cause.
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Wind_FURY (OP)
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August 03, 2023, 11:00:11 AM |
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~snip~ How much larger is BlackRock as a company compared to MicroStrategy? When I was doing my research on that, I found out that BlackRock owns 8.1% of MicroStrategy.
There is no doubt that BR is an incomparably larger company that is also globally positioned and, if I remember correctly, has offices in 30 countries and provides services in around 100 countries around the world. But it doesn't make much sense to compare BlackRock and MicroStrategy because they are two completely different business models, and Saylor is still one of the people who has the biggest influence in the company and is also completely crazy about Bitcoin. I assume that BlackRock does not just go in this direction without having insight into the wishes of its clients, but we cannot know how much of an effect it will actually cause. But ser, knowing BlackRock's potentially huge effect in any investment it tries to get into, do you actually believe that with their size, they would just merely be a minor player in the Bitcoin ETF Market? I personally believe they won't, but that's just a matter of opinion, I could be wrong. But just from an investment perspective, hopefully proven right. ![Cool](https://bitcointalk.org/Smileys/default/cool.gif)
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19Nov16
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August 07, 2023, 02:06:16 PM |
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In my opinion Six Digit can occur in 2024 or next year of course with a note that the end of the year can reach at least $ 70K, as we know that in 2024 there will be Halving Day which will usually make demand increase so that it makes prices easy to skyrocket.
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348Judah
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August 07, 2023, 02:10:16 PM |
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6 digit or $ 100k is certainly not difficult to achieve, and in my opinion $ 100k is difficult to occur in a short time, it may take at least 3 years and halving day that will occur in 2024 can be a measure of whether $ 100k or 6 digits take longer time or not.
The target for this six digit move is after this next halving which i believe that having an experience in such direction couldn't be a thing of delay any longer within the space interval of four years through which halving takes places, it is believed also that bitcoin will surge more than $100,000 in this coming year ahead the $68,000 all time high it has ever achieved, let's see how this gets unfolds the more we are getting closer to halving.
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