/biz/ - Business & Finance

Until 2017, BTC ownership was predominantly a retail investor phenomenon, dominated by techie early adopters and some UHNWIs and family offices with connections to tech.

Then, over the course of 2017, we saw a proliferation of crypto-focused funds (still collectively only representing an estimated USD 2 – 3 billion across 119 funds). While both those groups continue to grow, we are now seeing the much larger collective firepower of mainstream hedge funds, family offices and (U)HNWIs starting to come in. This could very easily turn into a stampede for the entrance and value could very credibly gap up to at least the low-end private-sector target of USD 1.5 trillion in a matter of months, with subsequent growth to the high-end private-sector target of USD 4.7 trillion happening more slowly over the course of two or three years. The potentially rapid move to USD 1.5 trillion would imply a BTC price of USD 112,000 based on the current number of BTC (potentially relevant given the short time frame being considered) or USD 86,000 fully-diluted.

The speed with which this move, especially the first leg of it, could happen is accentuated by the fact that Bitcoin ownership is concentrated; that most Bitcoin haven’t changed hands since the price was in the double digits; and that these owners have high conviction and high long-term BTC price expectations and have already weathered tremendous volatility for years without blinking. Fewer than perhaps 1 million BTC effectively circulate at all, and any new money will be forced to compete mostly for those, so the propensity for price to gap up as new institutional money flows in is high.

>>5637252
I can post charts that look like other charts too.

>>5632761
Obviously.

Again with that stupid fucking picture. It ain't going to happen.