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17 sats \ 5 replies \ @freetx 3 Dec \ on: If the US gvt actually did start printing USD to buy Bitcoin Would USD fall? conspiracy
I don't think the amounts in question are enough to really move the dollar market.
1M BTC at todays prices would be is 95B. Thats just a single Zelensky visit amount.
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10 sats \ 4 replies \ @piecover OP 3 Dec
Ok, a 100x from here is almost 10T for 1M BTC just saying
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9 sats \ 3 replies \ @freetx 3 Dec
Yes, but I don't think we will get 100x without governments buying along the way. Meaning, the 100x happens after US Gov gets a strategic reserve.
Personally, I think retail has almost no effect on BTC price anymore. (Sure it has some effect but like single digit percent). All the real moves in price are now institutional-only. Saylor can announce he's buying $1B in BTC and the price jumps 2%....there is simply no way for retail investors to compete with those amounts.
Point being, to get us to 100x is no longer in the hands of small hodlers. It will require institution and government on-boarding to propel to that level.
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10 sats \ 1 reply \ @piecover OP 3 Dec
Btw 100x from here doesn't mean we need 100x more money coming in. Bitcoin has a multiplier effect, if enough holders refuse to sell bellow $10Million then buyers need to simply raise their bid above it.
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59 sats \ 0 replies \ @freetx 3 Dec
Yep. I guesstimate that the multiplier effect is probably around 5-6x. At least thats what ETF money vs Market Cap has shown this year. (total ballpark calculations on my part)
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0 sats \ 0 replies \ @piecover OP 3 Dec
Agreed, only time will tell
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