I read on Twitter that the whales are selling into this rally. It also matches up with the chart from BitcoinMunger showing the only cohort that is not buying and accumulating is the super-whales
And I think this is wonderful. The more distributed that bitcoin gets, the better for global adoption. If anything, I think Saylor is getting greedy! LOL... The other huge benefit is that with fewer whales, major dumps will just not be possible. We see what happens with shitcoins where one whale can dump on the entire coin (sometimes its even the creator). With Bitcoin, this is of course less of a problem, but even just one entity with 1000-5000 coins is likely doing damage, if only temporarily. Once all of these guys wind down their large holdings, bitcoin will probably move like currencies where the markets are so huge that even $100 Billion will barely move the currency pair more than 1%. (This will of course only happen at a much, much higher price)
There's nothing fishy. You guys keep thinking in terms of buying on exchanges. MSTR most likely is not doing that. They are likely buying in bulk direct from one or more of the big miners at a pre-negotiated price. In other words, it's an off-market block trade that has zero price impact.
So what happens when say 5 or 6 or 7 even 10 entities own all of bitcoin? There aren't 21 million , there have been 3,800,000 bitcoins lost or forgotten about. So what happens then? That's a significant amount considering only 21 million can be mined
They are basically dollar cost averaging it, so their purchases on the exchange would be below the daily avg volume and would not have an affect on price anyway. https://treasuries.bitbo.io/microstrategy/ https://data.bitcoinity.org/markets/volume/30d?c=e&t=b
That has the effect of increasing the BTC price over time because bitcoin scarcity goes up as more coins get lost.
Have you ever heard of FOMO ? Why on earth do you want Apple to put all their $$ into an asset with no proven real world usecase widely adopted ? The reason BTC price is shooting up, because guys like you don't need real assetson their balance sheet, some toy money is sufficient - epecially if the prce goes up for whatever reason. A shame you're not the CEO at Apple...
What are they going to be worth after an 80% drawdown lol...MSTR is going to have to time this properly because if the pattern repeats we will be seeing another huge drawdown after this rally. Will MSTR be caught holding the bag? Avg Cost per BTC:$49,874.00 so a drawdown could easily bring price below this level...and MSTR continue to raise their avg cost by averaging up. @johnarb this link is for you...it has every metric you could want...even the BTC per Share:0.00147413 BTC since MSTR is a defacto bitcoin etf now. https://www.mstr-tracker.com/