patrick.net

Misc says

Of course, Bitcoin can go up another 8 times its value from here.

I would say easily 8 times from todays value is doable in the next 12 month for Bitcoin.
Many Altcoins will outperform Bitcoin. However there is more risk involved. Ethereum will easily outperform Bitcoin percentage wise.

Some coins are being used to build government infrastructure to digitalize national money. See Stellar Lumens (XLM) and Ukraine:
https://finance.yahoo.com/news/ukraine-government-picks-stellar-help-140028973.html

WookieMan says

Misc says

That was when margin debt increased 9.5% month over month.

Concerning for sure, but it's not always reinvested into stocks and securities. With interest rates so low, you can borrow say $100k against your stocks for ridiculously low amount monthly. It's how we bought our current house, so we had leverage with the bank because it was a foreclosure. Cash is king in real estate. We then refi'd a couple months later. I think our monthly interest only carry cost was about $220/mo.

So while it was a margin loan, it wasn't inflating the stock market. Others could be opening a business or funding it to stay afloat like restaurants and salons during the pandemic.

My guess though based on the retarded crypto values and the month over month increase in margin debt, much of that increase went into BTC and other top level Crypto coins. People will double down on stupid I guess ...

While it is possible for margin loans to be used for purposes outside of buying securities, it is more likely that other loans have been initiated by these trading geniuses to purchase securities. I just don't even want to know how many cash-out re-fi's have been done with some of that cash going into trendy stocks or alt-coins. Tap a HELOC to buy Bitcoin or TSLA? --- What could go wrong? Why not put it on a credit card? Interest rates there are low compared to the increase in value offered by these investments.

Misc says

I just don't even want to know how many cash-out re-fi's have been done with some of that cash going into trendy stocks or alt-coins. Tap a HELOC to buy Bitcoin or TSLA? --- What could go wrong?

@Misc
The crypto bull market is driven by institutional investors. They dont take out heloc's or use their credit card. (paypal, michael saylor, square invested hundreds of millions of USD into Bitcoin). You might want to do a little bit of research....

Retail investors have just slowly started to enter the crypto market again (see google search term of Bitcoin "trends").

"Across the U.S. and Europe, 36% of the survey’s 774 respondents said they own cryptocurrencies or derivatives. In the U.S., 27% of institutions — including pension funds, family offices, investment advisers and digital and traditional hedge funds — said they own digital assets, up from 22% about a year ago, when Fidelity surveyed 441 institutions just in the U.S. In Europe, 45% of respondents are invested in digital assets.

https://www.investmentnews.com/third-institutional-investors-hold-crypto-assets-fidelity-193833

Bitcoin does have a much larger advertising budget than the government of Thailand, and a much more naive audience.

If a survey was done on the number of people holding Thai Bahts as a store of wealth in the US or Europe, the number would be negligible.

... and that's a real currency

Misc says

Bitcoin does have a much larger advertising budget than the government of Thailand.

Bitcoin is a decentralized cryptocurrency. There is no CEO, no marketing department and no advertising budget. No number to call. No Headquarter.

Built into its code, Bitcoin has true scarcity (only 21M Bitcoin can be created) and the the block reward for mining new bitcoin is halved, meaning that bitcoin miners will receive 50% less bitcoin for every transaction they verify. BTC halving occurs every 210,000 blocks, which equates to a halving occurring approximately every 4 years.

Again @Misc do your research. Or are you just trolling?

Coinbase has over 35 million users. --- Those are not institutional investors. Those are your Holder geniuses.

Misc says

Coinbase has over 35 million users. --- Those are not institutional investors. Those are your Holder geniuses.

@Misc
Oh man, please do at least some research....Why in the world would you think the 35M users are ONLY retail? Some here have not even done basic research on what's going on with Crypto.....Which is fine....but then don't comment on the topic with such an obvious lack of knowledge.

There is
Coinbase (for new users)
Coinbase Pro (for advanced users / traders)
Coinbase Prime (for Institutional investors)
Coinbase OTC (Over The Counter, big money investors)

https://news.bitcoin.com/coinbase-20-billion-cryptocurrency-custody-institutional-investors/

"Tejpaul has 25 years of experience in sales and trading, with almost 17 years at Barclays, and nine years at JPMorgan. He explained that he joined Coinbase six months ago, and is now “responsible for growing the institutional adoption of cryptocurrency, across sales, trading, custody, and Prime.” Prime is Coinbase’s services for institutional clients, including asset managers, hedge funds, and VCs.
“It’s a phenomenal time for crypto … Sometimes timing is everything,” Tejpaul opined. “We have had an explosion of activity,” he added, elaborating:
I joined in April this year, at that time our assets, institutional assets under custody were $6 billion, today we stand at over $20 billion, so more than a three time increase."

@Misc

i'll give you that....retail investors are quickly jumping into the market....judging by the enormous amount of interest / google trends and media coverage.

Also....Dogecoin was trending on Twitter the other day....lol