Companies and ETFS buy huge amounts of Bitcoin and yet the price lingers between $ 100,000 and $ 110,000. How is that possible? According to Charles Edwards of Capriole Investments, the explanation is simple: people who have had Bitcoin dumped on Wall Street for years and sell their positions.
All Bitcoin are swallowed up
People who have been working on Bitcoin for years, the so -called OGS, are therefore selling to Wall Street. Possibly also because they believe that Bitcoin will not work in this way.
After all, the focus is increasingly on the Wall Street narrative, instead of the original ethos of the digital currency. Bitcoin once started as an independent form of money.
At the moment, however, it is used less and less as a means of payment, and the focus is entirely on the functions such as digital gold
Yet all Bitcoin they sell are swallowed up by Wall Street. Companies buy huge amounts of Bitcoin and the ETFS also happily participate.
Big players step in Bitcoin
The parties who board are getting bigger. Last week, for example, Cardone Capital, the real estate company of Grant Cardone. They bought 1,000 bitcoin and are planning to put 3,000 in the treasury in the coming period.
Furthermore, there was of course the procap of Podcaster Anthony Pompliano that is planning to go to the stock market. In addition, there was the mining company Panther Metals, and the Norwegian Diepzee-Mijnbedrijf Green Minerals.
It is not just useless or further empty companies that step into Bitcoin. It is now also parties that function well in their own market. This causes a lot of confidence about this development.
Source: https://newsbit.nl/bitcoin-koers-vast-ogs-dumpen-op-wall-street/
