Why allocation to Bitcoin/Crypto is important , we cover the recent price and what is in for future !
The above image(https://bitcointreasuries.org/) displays the companies and funds that have put their free cash/reserves into Bitcoin and mind you these are stock exchange listed companies and they own Bitcoin in million of dollars. The point here is that we don’t know which other companies or Countries own Bitcoin. The price has surged upwards since these companies announced their holdings which does not mean that price cannot go down. We explain the price action in the image below —
In year 2017 the upcycle was driven by retailers like us only but this time we have corporates , banks and NBFC and Governments driving adoption. We now have 11,500 as support and three resistances to break to start the fireworks. Does that mean we are necessarily going upwards ? NO
But the current problems in world fully support the existence and validate the purpose of Bitcoin as STORE OF VALUE over time and a medium of exchange.
Canonical crypto regulator, the New York State Department of Financial Services (DFS) has granted the first “conditional BitLicense” to PayPal for a partnership with Paxos Trust Company enabling customers to buy and sell cryptocurrencies.
With more than 370 million customers paypal now supports cryptocurrencies. The question is who will be the next to adopt bitcoin? The question is not if but when they will…….
The chart above has Bitcoin , S&p 500 ( US Stock Exchange), Nasdaq and Gold. Bitcoin is clearly outperforming them all over time. The more interesting aspect is that all assets are flat before election of USA but Bitcoin and Cryptos are pumping. Something big is being hidden from us all. All we have to do is hold our assets and not invest in scams. There are more than 10,000 cryptocurrencies now and 99% of them will go to zero.
In the last recession there was only Gold but now we have Bitcoin.
Market cap of Gold is 10–11 TRillion Dollars
Market cap of Bitcoin is 250 Billion dollars only.
We will be back with interesting information and content for our dear Clients.
Till then , HODL :)
